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

'Safe antifreeze' works better with added nanoparticles

26 March 2015 Research

news image

Antifreezes based on a non-toxic food additive are now more effective and user-friendly

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

Most Commented

Chlorinated compounds form in tea and coffee

24 November 2015 Research

news image

Treated water reacts with organics to form disinfection byproducts

Brazilian mine disaster releases dangerous metals

21 November 2015 News and Analysis

news image

Irreversible negative human health and environmental effects could result from Brazilian mine’s dam collapse