2021 - 2022 Exhibitions
Dow to sell German chemical park assets
US chemicals giant Dow Inc is mulling over a sale of its German infrastructure assets for a potential EUR800 million as it seeks cash for investment elsewhere, according to a Reuters report.
While Dow is looking to sell its petrochemicals sites in Stade, Schkopau and Boehlen, it will continue to produce plastics and intermediates there, paying usage fees to the new owner. Dow is the main user but not the only one operating in the three chemical parks.
Dow CEO James Fitterling had recently said that the firm would continue to offload infrastructure companies from its balance sheet and make use of the funds for capex, smaller acquisitions or share buybacks.
Chemical parks typically provide infrastructure for the likes of electricity, steam, natural gas and other services to resident producers.
“Dow has informed employees in Germany that it is exploring opportunities related to certain site infrastructure assets and services at its Stade, Schkopau and Boehlen sites, but no final decision has been made,” a company spokesman said.
(PRA)
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