MIDLAND, Mich. (AP) -- Dow Chemical Co. on Thursday announced the management team and structure for its new division that will be formed after its $15.3 billion acquisition of specialty materials company Rohm and Haas Co. closes.
Pierre Brondeau, Rohm and Haas' current chief executive officer and president, will lead the Rohm and Haas Advanced Materials Division of Dow. The unit will be created in after the deal, announced in July, closes in early 2009.
The advanced materials division will be composed of six business groups, including coatings, buildings and construction and papers and textiles.
Shares of Philadelphia-based Rohm and Haas rose 60 cent to $72.25 in trading Thursday while Dow Chemical shares rose 42 cents to $21.66.
