Dow trying to sell two plastics-related divisions

Chemical making giant Dow Chemical Co. is seeking a buyer for its polypropylene licensing business, and its catalysts and plastics additives business.

“We are reviewing our entire portfolio and seeking even further opportunities to optimize 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,” Dow’s chairman and CEO Andrew N. Liveris said in a statement.

The move to sell the two divisions is the latest in the Midland, Mich.-based Dow’s plan to enhance its position in what it calls “high-margin, fast-growing end-markets”, while “simultaneously optimizing the value of assets.” Since 2009, Dow has divested non-core businesses representing approximately US$8 billion in revenue, the company said in a statement. “In January, [Dow] divested the stabilizers component of its plastics additives business, and entered into a definitive agreement to sell its 50 per cent ownership in Nippon Unicar Company Limited (a Japanese joint venture in the Dow Electrical and Telecommunications business),” Dow said.