Dow will sell its polyolefin films plant in Findlay, Ohio to Valfim North America, Inc., a wholly-owned subsidiary of Valgroup Packaging Solutions.
In September, Dow announced plans to close the Findlay plant at the end of January 2015. Valfim intends to restart the plant in February 2015, depending on the final approval of incentives from the state of Ohio.
The sale, which will close in the first quarter of 2015 pending regulatory approvals, includes assets and technology that produce a wide variety of polyolefin films.
The divestiture is part of Dow's larger plan to eliminate nearly $2.5bn in assets by mid-2016.
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