Dow Polyurethanes to acquire 51% stake to gain total ownership of Thai company

04-Jan-08

In line with Dow's strategy of investing in its downstream Performance businesses, Dow Polyurethanes has acquired the remaining 51% stake of Pacific Plastics (Thailand) Limited (PPTL), a polyols and polyurethane systems facility located in Map Ta Phut, Thailand. PPTL is a joint venture between Dow, Siam Cement Group (SCG) and two other minority partners. Upon completion of the transaction, the polyols and polyurethane systems facility will be wholly owned by Dow. The acquisition is consistent with Dow's commitment to continually assess the company's joint ventures to ensure they support the overall business strategy. Dow's acquisition of PPTL supports the strategic goals of both joint venture partners and the companies will continue to collaborate on various projects such as the liquids cracker in Thailand announced in October of 2006, which is expected to commence operations in 2010.