The Federal Trade Commission is seeking public comment on The Dow Chemical Company’s application for FTC approval to sell to Hager Pacific Acquisitions, LLC, real estate and other property in Torrance, California, which is related to a latex polymers business that Dow previously divested to Arkema Inc. Hager Pacific Acquisitions, LLC is a subsidiary of Hager Pacific Properties. Dow’s sale of the property is required under a 2009 settlement with the FTC, which resolved the agency’s concerns about the effect of Dow’s acquisition of Rohm and Haas Company on competition in the markets for industrial chemicals used to make coated paper products, paints, and adhesive.
The FTC’s 2009 order settling the case requires Dow to sell the Torrance property. Arkema Inc, the FTC-approved buyer of Dow’s acrylic acid and latex polymers businesses, did not want to buy the Torrance latex polymers plant and related property. Instead, Arkema bought the business only, and Dow and Arkema entered into a long-term lease with an option to buy the latex polymers plant and the land it occupied. Dow remains obligated to sell the leased property, and eliminate the lease relationship with its competitor, Arkema.
The Commission is accepting public comments on Dow’s application until October 3, 2011, after which it will decide whether to approve it. Written comments should be sent to: FTC Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, DC 20580. To file a comment electronically, click here and follow the instructions at that site. Copies of the application also can be found on the FTC’s website and as a link to this press release. (FTC File No. 081-0214, Docket No. C-4243; the staff contact is Roberta S. Baruch, Bureau of Competition, 202-326-2861; see press release dated January 23, 2009.)
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