The 50-50 joint venture will be fully operational by the end of 2000, with combined manufacturing capacity of 330,000 metric tons per year. Rohm and Haas also will acquire Stockhausen's merchant monomer business in Europe. Financial details of the venture were not disclosed. The companies will apply for all appropriate regulatory approvals.
Acrylic acid is an essential building block material for products made by both companies.
Rohm and Haas uses acrylic acid and its derivatives to make a full range of acrylic materials used in paints, coatings, adhesives, and plastics, among other things. Stockhausen uses glacial acrylic acid as a key component in the manufacture of superabsorbent materials used in baby diapers and personal care products. Wilson also said that he is pleased to see Rohm and Haas take a stronger position in the merchant monomer market. We feel confident that our reputation as an efficient, cost-effective supplier of acrylic monomers can only be enhanced by an increased position in Europe. We are happy that our excellent business relationship has led to this cooperation, including the decision by Rohm and Haas to build at the Chemical Industry Park Marl, which we believe is well-positioned for such investment.