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Rohm And Haas Sells Stake In UP Chemical

Chemical maker will sell its 40 percent stake in UP Chemical Co. to Woori Consortium for $112 million.

Apr 4, 2008
PHILADELPHIA (AP) -- Chemical maker Rohm and Haas Co. said Friday it will sell its 40 percent stake in UP Chemical Co. to Woori Consortium.
 
Rohm and Haas will receive about $112 million for its stake in the South Korean company. Rohm and Haas spent $3.5 million in 1998 to initially invest in UP Chemical.
 
The sale will increase Rohm and Haas' second-quarter earnings by 22 cents per share.
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