The U.S. automotive industry may be stalling out, but some adhesive suppliers doing business with carmakers have not run out of gas. That was demonstrated when the Dow Chemical Co., through its business unit Dow Automotive, announced early this year it acquired full ownership of Gurit-Essex AG. In addition to product enhancement and a stronger global presence, the purchase apparently has helped the company boost sales as well. Dow Automotive claims 1.24 billion dollars worldwide in sales, 600 million dollars of which comes from adhesives and sealants. In the past, 300 million dollars of that figure was obtained from Dow Automotive's traditional products and another 300 million dollars was traced to the Gurit-Essex joint venture (JV). As a result of the acquisition, Dow Automotive alone expects sales of l.4 billion dollars. According to Denton, Dow Chemical spends nearly 800 million dollars a year in polyrner research and development (R&D), a large percentage of which is earmarked for the automotive division.
International drive. Gurit-Essex acquisition expands Dow Automotive's global reach
Adhesives Age ; 44 , 3 ; 39-41
2001
3 Seiten, 2 Bilder
Article (Journal)
English
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