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

Engines of innovation

29 September 2011 Feature

news image

Our desire for economical but environmentally friendly transport has driven progress in fuel and oil additives. But as Andy E...

Most Read

No-frills coats set a trend for designer viruses

26 August 2014 Research

news image

An artificial protein that self-assembles around and protects DNA could be ideal for gene therapy, nanomachines and synthetic...

History of King Richard III written in his teeth

18 August 2014 Research

news image

Chemical analysis of isotope signatures in monarch's remains provide insight into his life

Most Commented

The energy to fight injustice

23 July 2014 Comments

news image

Giving the world carbon-free energy means putting nuclear energy back on the agenda, says James Hansen

Next Mars rover will make oxygen from CO2

4 August 2014 News and Analysis

news image

Mars 2020 will set Nasa’s space exploration on a self-sufficiency course