The Dow Chemical Co. announced a reorganization of its global business groups into three units as part of an effort to improve the company's financial performance and strengthen long-term prospects.

Australian coatings company Wattyl Ltd. announced the sale of its Wasser High-Tech Coatings business, based in Kent, WA, to an investment group.

Tikkurila Coatings Oy, responsible for Kemira's industrial coatings activities, has acquired Akzo Nobel Coatings' general industrial liquid coatings activities in Hungary.

The Valspar Corp. has acquired De Beer Lakfabrieken, a privately owned manufacturer of automotive-refinish coatings based in Lelystad, The Netherlands.

Charles Ross & Son Co. announced the opening of a second manufacturing plant in China, located in Wuxi City, approximately 70 miles from Shanghai.

An investment group led by New York-based The Blackstone Group submitted a buyout offer for Celanese AG, the Germany-based chemicals company.

ICI Paints' North American division has acquired eight architectural-paint stores in the San Joaquin Valley of California from Wilshire Paint Co. in a transaction that ICI Paints said expands the company's total of retail paint stores to 75 in the state.

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The California Air Resources Board (CARB) issued an updated list of coatings-manufacturing companies that will be obliged to pay millions of dollars in new fees based on estimated emissions of VOCs from architectural coatings sold in the state.

Raymond D. Stevens Jr., retired chairman and CEO of Pratt & Lambert Inc., died Nov. 15, 2003, in Buffalo following a brief illness. He was 76.