Dow’s Derakane sales of the epoxy vinyl ester resin are around $70m

Ashland Composite Polymers agreed to purchase Dow’s Derakane epoxy vinyl ester resin business.

The deal, worth $92m (E71.5m), includes all Derakane technology assets. Derakane annual sales are about $70m (E54m), according to Dow. A spokesman told PRW.com: “Dow is going to serve as a contract manufacturer [for Derakane] for up to one year in North America and for up to two years in Europe and Brazil.”

Dow manufactures Derakane at three facilities – Joliet in Illinois, Rheinmuenster in Germany and Guaruja in Brazil. The spokesman said: “We will be evaluating alternative uses [for the facilities] from this point forward.”

Ashland has acquired all the Derakane and Derakane Momentum product and process facilities and associated patents and trademarks. The sale does not include manufacturing facilities. The spokesman said: “The transaction includes provisions that allow for transfer of certain research and development and sales employees. Specific numbers depend on a decision made by Ashland and specific employees.”

Dow’s Thermoset Systems business general manager Juan Antonio Merino said: “In today’s environment continued success would require us to broaden our market participation and product offering. This would involve investing in polyester, which lies outside of our established core capabilities.”