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Hampshire Chemical Corp. Announces Sale of DAXAD(TM) Dispersant and Glycine Businesses to GEO Specialty Chemicals

Source: Dow Chemical Company

Midland, MI, November 01, 2005 - Hampshire Chemical Corp., a subsidiary of The Dow Chemical Company, finalized the sale today of its DAXAD(TM) dispersant and Glycine businesses, including its Deer Park, Texas production facility, to GEO Specialty Chemicals. Terms of the agreement are not being disclosed.

Peter Davies, business vice president of Dow, commented, "This agreement confirms our emphasis on portfolio management: focusing our resources on businesses that are better positioned for long term sustainability and value creation within Dow." Davies continued, "Our top priority now is working closely with GEO Specialty Chemicals to ensure a seamless transition for our customers."

Ken Ghazey, CEO and President of GEO, added, "This acquisition is consistent with GEO's strategic plans to grow its specialty chemical businesses. The Hampshire Chemical facility and the DAXAD product family will complement GEO's Construction and Industrial Additives division. We look forward to a successful integration and providing a high level of customer support."

DAXAD is the trademark for naphthalene sulfonate formaldehyde condensate (NSFC) dispersants. These high activity dispersants are used to disperse finely divided insoluble particles in water. They are used to improve suspension, lower viscosity, increase color intensity, and provide better grinding properties in emulsion polymerization, dyes, ceramic slips, cements, gypsum wallboard, tanning and many other industries.

Glycine is a specialty ingredient used as a flavor enhancer or flavor masker in oral care and animal feed applications. It is also used in antiperspirants and in pharmaceuticals as a buffering agent/pH stabilizer.

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