Dow Selling Its Polypropylene Business to Grace

Midland, MI, Oct. 14, 2013 -- Dow Chemical will sell its polypropylene licensing and catalysts business at Norco, Louisiana to W.R. Grace & Co for $500 million.

The business provides technology and catalysts to make polypropylene, used to manufacture carpet, among other products.

In addition to the plant, Grace is acquiring customer contracts, licenses, intellectual property and inventory.

The sale is a part of Dow Chemical's plan to sell non-core businesses worth about $1.5 billion by next year.