As part of this transaction, Dow has also acquired Reichhold's carpet and paper latex businesses.
The joint venture has access to a broad range of latex chemistries from both companies. These products are used in a wide range of end use applications, including latex gloves, textile printing and construction applications.
The joint venture employs 400 people and has sales, marketing and research support in North America, Latin America, Europe, and the Pacific.
Yoshi Kawashima, chairman and CEO of Reichhold, said the joint venture will offer its customers a wider portfolio of products and services than previously available.
Dow Reichhold Specialty Latex LLC is headquartered in Research Triangle Park, N.C. and will operate two latex production facilities in Cheswold, Del. and Chickamauga, Ga.
Dow Reichhold Specialty Latex LLC also has access to Dow's manufacturing network. New facilities are already being planned to service market segments in the Pacific.