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.