Rohm and Haas Co. has announced the completion sale of its Automotive Coatings business, for $230 million, plus a working capital adjustment, to Nippon Paint Co., Ltd. (NPC).
Included in the sale are Rohm and Haas' North American Automotive Coatings businesses in the U.S., Canada and Mexico, and its facilities in Lansing, Ill., as well as its interests in two joint ventures with NPC, Morton Nippon Coatings (MNC) in North America and Nippon Bee Chemical (NBC) in Japan.
NPC will introduce NB Coatings, Inc. to serve North American customers; NBC will remain under the same company name.
The purchase and introduction of NB Coatings unites the decade-long partnering organizations under one strategy to create a leading position in the North American plastic automotive coatings market.
John Culbertson, former Vice President of Rohm and Haas and Business Unit Director for Automotive Coatings, will become the president of NB Coatings.