Dow Chemical Creates New Coating Unit

MIDLAND, Mich. (AP) -- The Dow Chemical Co. on Friday said it formed Dow Coating Materials, a new business unit focused on the coatings market, following its $16.5 billion buyout of Rohm & Haas Co. in April.

The new unit merges Dow Coating Solutions and Rohm & Haas Paint and Coating Materials. The company said this combination will create the world's largest supplier of raw materials for architectural and industrial coatings.

Shares of Midland, Mich.-based Dow Chemical rose 56 cents, or 3.3 percent, to $17.43.

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