Dow plans to shift toward specialty chemicals, to close two styrenics units at Texas

16-Sep-09
As part of the shift toward becoming a specialty chemicals maker, Dow Chemical Co. plans to close two production units at Freeport, Texas by the end of the year. This decision will impact the styrene monomer and ethylbenzene production units at Texas, part of Dow’s basic chemicals arm. The developments are part of the broad restructuring plan announced in June, after acquisition of Rohm & Haas Co in a US$16.5 bln deal. The company will salvage value from machinery and equipment at the plants during the shutdown, but will continue to meet the needs of its derivatives business through other measures. Its requirement of styrene will be met from Americas Styrenics, its joint-venture with Chevron Phillips Chemical.
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