READING, Pa. (AP) -- Specialty materials company Rohm and Haas Co. on Monday said its powder coatings business will discontinue its distribution relationship with ChemPoint in order to provide directly to customers.
"We believe the future needs of our powder coatings customers can be best served through a direct market channel, supported by a robust web purchasing site," said Volkan Goren, a general manager at the company.
Rohm and Haas will end its relationship with ChemPoint on Dec. 23, 2008.
This past summer Rohm and Haas was acquired by Dow Chemical Co. for $15.3 billion. The deal is expected to close early next year.
Shares of Rohm and Haas rose $3.16, or 4.6 percent, to $71.57. The 52-week share price range is between $44.13 and $76.50.
