According to foreign media news London December 4 news, the German chemical manufacturer Evonik Industries said Monday that the company and the United States Dow Chemical Company has terminated the proportion of both 50% of the investment in the production of acrylic joint venture.
The Sto Haas joint venture has two production facilities in Germany and the United States, each of which will return to the original owners prior to the establishment of the joint venture in 1999.
The joint venture company's manufacturing facility in Mal, Germany, will be owned by Evonik Industries, Inc., from December 31. The facility at Deer Park, Texas will be re-owned by The Dow Chemical Company.
Norbert Westerholt, head of Industrial Baby Care at Evonik, said: "The dissolution of the joint venture will put both parties in a better position to pursue their respective strategic goals."