Dow Automotive has announced sale of its sealer and damper business in Europe and India, Middle East, Africa (IMEA) to a group of European investors led by Katzberg Invest AG. The new company, formed to incorporate the sealer and damper business, is called Revocoat. The sale includes the manufacturing facility and the R&D lab in St. Just, France; the manufacturing facility in Camarma, Spain; and Dow's participation in Anabond-Essex in Chennai, India. Completion of the transaction is expected by end of January 2009. In addition, talks are currently underway for Revocoat to also acquire Dow Automotive sealer and damper assets in Asia and Latin America.
Revocoat SAS will be headquartered in Saint Just, France. The company will also have a fully owned subsidiary in Spain, Revocoat Iberica, a joint venture in India, and potentially other countries in the world.