CHICAGO (July 3, 12:05 p.m. ET) — For the second time in less than four years, HallStar Co. has bought a plastic additives business from Dow Chemical Co.
This time around, Chicago-based HallStar has bought the TP-brand plasticizer product line from Midland, Mich.-based Dow. The TP trade name “is known worldwide as an integral part of polymer formulations, and will significantly expand the types of plasticizer-based solutions we can provide to our customers,” HallStar Executive Vice President Louis Pace said in a July 2 news release.
Terms of the deal were not disclosed. The transaction does not involve any property or equipment.
In mid-2009, HallStar bought two product lines - one plasticizer and one polymer additive - from Dow. HallStar has annual sales of more than $140 million in specialty chemicals and industrial ingredients. Dow ranks as one of the world's largest plastics and chemicals makers, with sales of almost $60 billion in 2011.