A number of major businesses have changed hands recently. Two previously announced acquisitions have now been completed: Dow Chemical Co., Midland, Mich., has acquired Rohm and Haas Co., Philadelphia, and has begun the integration process. BASF AG in Germany has acquired Ciba Holding AG of Basel, Switzerland. Ciba will be fully integrated within BASF, starting in July.
•Nova Chemicals Corp., of Calgary, Alberta (U.S. office in Pittsburgh) has agreed to be acquired by International Petroleum Investment Co. (IPIC), wholly owned by the Emirate of Abu Dhabi. Nova will operate as an independent company with its current management. IPIC owns equity stakes in Borealis in Europe, Oman Polypropylene in the Sultanate of Oman, and other petrochemical holdings around the world.
•As part of its strategy to expand in engineering polymers, Arkema of France (U.S. office in Philadelphia) has acquired Oxford Performance Materials, Enfield, Conn. Oxford developed Oxpekk polyether ketone ketone (PEKK) resins with high-temperature properties and resistance to chemicals, abrasion, and combustion. PEKK is used in aerospace, medical implants, and down-hole equipment for the oil and gas industries.
•Solutia Inc., St. Louis, agreed to sell its nylon business and manufacturing plants to an affiliate of SK Capital Partners II, L.P., a New York private-equity firm. The sale is expected to close in the second quarter, when a new company will be formed for the nylon business.
•Teknor Color Co., Pawtucket, R.I., sold its PVC colorant business to Breen Color Concentrates, Lambertville, N.J.