Dow makes $1.5bn divestiture plans


US chemical giant Dow has announced plans to sell more parts of its ‘non-core’ business, adding that it will target ‘an increased divestiture list of nearly $1.5 billion (£1 billion) over the next 18 months’.

The company had identified two parts in particular: the ‘polypropylene licensing and catalysts’ business unit and the plastics additives unit.

‘We are reviewing our entire portfolio and seeking even further opportunities to optimise value: selectively pruning assets that are no longer a strategic or financial fit,’ said Dow chair and chief executive Andrew Liveris.

In October 2012, Dow announced plans to cut 2400 jobs, representing 5% of its global workforce, and close 20 manufacturing plants, in a bid to shave $500 million off its annual costs over the next two years. Since then, it has struck deals to sell the stabilisers component of its plastics additives business and its 50% stake ownership in Nippon Unicar Company – a Japanese joint venture with Tonen Chemical.


Related Content

Copper catalysis sees the light

28 March 2013 Research

news image

Copper nanoparticle's oxidation state can be tuned using visible light, enabling industrially important propylene epoxidation

Driving towards success with biomass-derived petrol

10 November 2014 Research

news image

Renewable feedstock converted into high octane gasoline

Most Read

Self-cleaning sensors see the light

23 January 2015 Research

news image

Overcoming electrode fouling in biomedical and environmental detectors

Alkali metal explosion explained

26 January 2015 Research

news image

High-speed cameras help re-examine the chemistry behind a classic classroom demonstration

Most Commented

Undeniable: evolution and the science of creation

7 January 2015 Review

news image

Evolutionary arguments

Alkali metal explosion explained

26 January 2015 Research

news image

High-speed cameras help re-examine the chemistry behind a classic classroom demonstration