Dow halts sale of plastics additives operation

19-Sep-13

Dow Chemical Company, the largest U.S. chemical producer by sales, no longer plans to sell its plastics-additives business, as per Bloomberg. This decision was taken because the offers received from bidders were not enough. Dow is “quite comfortable” continuing to run the additives business for cash, Chairman and Chief Executive Officer Andrew Liveris said. “This is a valuable business that is currently being undervalued by buyers in the market.” Dow, based in Midland, Michigan, continues to pursue the sale of other units as outlined earlier this year, Liveris said. The plastics-additives unit was part of US$1.5 bln in proposed divestitures, along with a fumigants unit and polypropylene licensing and catalysts, announced in March.