US mega chemical firm Dow Chemical says it will sell its Polypropylene Licensing and Catalysts and its Plastics Additives business units, as part of its additional actions to accelerate its on going commitment to aggressive portfolio management, as outlined in December 2012. Dow is targeting an increased divestiture list of nearly US$1.5 billion over the next 18 months.

“Today’s announcement is yet another proof point of Dow’s rigorous focus on return on capital, and is squarely in line with commitments we made earlier this year,” said Andrew N. Liveris, Dow’s Chairman/CEO. “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 – all in an effort to accelerate value creation and deliver long-term, sustainable growth for the company.”

These actions are the latest in a series of steps the company has taken to further enhance its leadership position in high-margin, fast-growing end-markets, while simultaneously optimising the value of assets. Since 2009, Dow has divested non-core businesses representing approximately US$8 billion in revenue. In January, the company divested the stabilisers component of its Plastics Additives business, and entered into a definitive agreement to sell its 50% ownership in Nippon Unicar Company (a Japanese joint venture in the Dow Electrical and Telecommunications business).

Dow Polypropylene Licensing and Catalysts offers technology for producing PP, including UNIPOL PP Process Technology, CONSISTA D7000 Donor and SHAC Catalyst with Advanced Donor Technology (ADT).