The Dow Chemical Company announced today the close of the sale of Dow's global Polypropylene business to Braskem S.A. In addition to the transaction, the two companies will continue to evaluate potential future collaborations on growth opportunities in connection to their strategies.
“The global polypropylene divestiture is another major step in Dow's transformation and a strong example of our disciplined approach to portfolio and business prioritization,” said Andrew N. Liveris, Dow Chairman and Chief Executive Officer. “This divestment is in line with our strategy to transform our Performance Plastics business to focus on downstream, technology differentiated solutions. It also allows us to both reduce debt and liberate capital and resources for Dow's higher growth, higher margin businesses.”The Dow Chemical Company announced today the close of the sale of Dow's global Polypropylene business to Braskem S.A. In addition to the transaction, the two companies will continue to evaluate #
The assets involved in the transaction included Dow's polypropylene manufacturing facilities at Schkopau and Wesseling, Germany, and Freeport and Seadrift1, Texas. Dow's Polypropylene Licensing & Catalyst business and related catalyst facilities were excluded from the scope of the transaction.
About The Dow Chemical Company
Dow combines the power of science and technology with the "Human Element" to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2010, Dow had annual sales of $53.7 billion and employed approximately 50,000 people worldwide. The Company's more than 5,000 products are manufactured at 188 sites in 35 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.
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