Both companies have signed a letter of intent, and negotiations were expected to be completed by late-January 2006.
In December 2005, MeadWestvaco Specialty Chemicals Division announced that it would discontinue its acrylics manufacturing operations in first-quarter 2006.
MeadWestvaco will work with its partner Alberdingk Boley to ensure a smooth transition for the products included in the new license. Customers will be contacted to discuss products that will be marketed by Alberdingk Boley.