10:32 AM EDT, 05/02/2024 (MT Newswires) -- Dow (DOW) said Thursday it has agreed to sell its flexible packaging laminating adhesives business to Arkema in a $150 million deal.

Under the deal terms, five manufacturing sites in Italy, the US and Mexico will transfer to Arkema, the company said.

Dow said it expects the transaction to close by the end of 2024, pending regulatory approval.

The company will retain its water-based laminating adhesives and acrylic adhesives businesses in packaging and specialty plastics, as well as adhesive solutions in Dow consumer solutions and MobilityScience, it said.

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