2013-2014 Exhibitions
In a bid to divest its non-core businesses, US-based Dow Chemical has found a buyer for its PP licensing and catalysts business with a sales tag of US$500 million. The company is one smaller to Dow, WR Grace & Co, which makes speciality catalysts and additives.
The sale is a part of Dow's plan to sell non-core businesses worth about US$1.5 billion by next year. Under the deal, WR Grace will acquire Dow's PP catalysts manufacturing plant at Norco, Louisiana, and customer contracts, licenses, intellectual property and inventory. It expects the transaction to close by year end, pending regulatory approvals.
Dow's intention is to divest more businesses in the next 12 months and focus its attention on producing high-margin products for the electronics, water, packaging and agriculture sectors.
Already since 2009, Dow has divested non-core businesses worth about US$8 billion in revenue and is also looking at selling its epoxy, construction and chlorine businesses.
(PRA)
