The Dow Chemical Company has acquired the intellectual property assets of Advanced Design Concepts (ADC), a joint venture formed with Fiberweb, a leading global supplier of high-performance, specialty nonwoven fabrics. As part of the transaction, Dow also acquired certain licenses under specific Fiberweb-owned patents. The resulting interests will be incorporated into the Dow Global Technologies portfolio and aligned with the health and hygiene business. ADC was formed in 2001 to develop innovative nonwoven technologies, such as elastic nonwovens, with applications in disposable hygiene, medical products and apparel. Terms of the agreements were not disclosed.
“Both companies strongly believe in the future potential of advanced nonwovens, in particular elastic and extensible structures,” stated Jose Pina, Dow’s global market director, health and hygiene. “After determining that this joint venture was no longer the ideal vehicle to pursue innovation in this space, Dow reached an agreement with Fiberweb to acquire its interests in the joint venture. Dow and Fiberweb will continue to pursue advanced nonwovens opportunities jointly and independently.”
Under the joint venture, Fiberweb provided a unique fabrication technology base, while Dow provided its well-known materials science expertise. By acquiring Fiberweb’s interests in ADC through this transaction, Dow is able to further strengthen its elastics technology capabilities in combination with its extensive portfolio of advanced elastomers.