Dow Chemical looking to separate about 40 plants
(Associated Press Via Acquire Media NewsEdge) MIDLAND, Mich. (AP) — Dow Chemical is looking to separate about 40 manufacturing plants from its business as it continues to concentrate on moving away from cyclical commodity products.
The company said it is considering joint ventures, spinoffs or sales. It expects those deals to happen within the next 12 to 24 months. Almost 2,000 workers will be affected by the moves.
Dow Chemical Co. said that the businesses make up to $5 billion of total annual revenue. The assets include its U.S. Gulf Coast chlor-alkali and chlor-vinyl facilities, the global chlorinated organics production plants, the global epoxy business, its brine and select assets supporting operations in Freeport, Texas, and Plaquemine, La., and energy operations in Plaquemine, La.
The company said Monday that it will also shut down about 800,000 tons of chlorine and caustic equivalent capacity in Freeport, Texas.
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