The Associated Press reports that Italian automaker Fiat Group SpA will pass up the opportunity to take a 20% stake in Chrysler if the U.S. automaker’s unions do not agree to major cost cuts.

Reuters reports that U.S. consumer prices have dropped on a year-by-year basis for the first time in more than 50 years.

MAPEI, a world leader in the production of adhesives for the building sector, has acquired the assets of All-Purpose Adhesive Company (APAC) of Dalton, GA.

The Dow Chemical Co. recently announced that Rohm and Haas, a wholly owned subsidiary of The Dow Chemical Co., has entered into a definitive agreement to sell the stock of Morton International Inc., the salt business of Rohm and Haas, to K+S Aktiengesellschaft.

H.B. Fuller Co. announced today that it has entered into an agreement to acquire Nordic Adhesives, a developer and manufacturer of flexible packaging adhesives based in Buxtehude, Germany.

According to the Associated Press, 3M has announced plans to reduce its worldwide work force by 1,200 due to the global economic slump.

At the request of the Obama administration, Rick Wagoner has stepped down as chairman and CEO of General Motors, effective immediately.

Bayer MaterialScience, Leverkusen, Germany, has announced plans to invest €20 million in a new aromatic and aliphatic polyisocyanate manufacturing facility ink India as part of its strategy to grow its business in the country and strengthen its position as a market leader in the supply of polyurethane raw materials.

In an effort to better serve the batch, custom and specialty chemical industry, SOCMA members voted on March 19th to change the organization’s name from the Synthetic Organic Chemical Manufacturers Association to the Society of Chemical Manufacturers and Affiliates.

According to this AP article, General Motors began the process of reducing its white-collar workforce by laying off 160 employees - mostly engineers - on Tuesday.