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Oxiteno Buys Arch’s Venezuelan Urethanes Business

9:28 AM MDT | September 21, 2007 | Michelle Bryner and Kara Sissell

Arch Chemicals says it has sold its performance urethanes and organics subsidiary Arch Quimica Andina (Santa Rita, Venezuela) to Oxiteno (São Paulo), a subsidiary of Grupo Ultra (São Paulo). Arch expects net proceeds from the deal to be $14 million. The company says it will record a non-cash, pre-tax loss of approximately $14 million related to the divestment. Arch Quimica Andina produces polyols for non-foam applications in coatings, adhesives, sealants, elastomers, thermoplastic urethanes, and rigid foams. The business, which includes a...

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