Industry News

Dow Announces the Sale of the Thermoplastic Polyurethane Business

Published on 2009-01-21. Author : SpecialChem

Midland, MI -- As part of its strategy to become a consistent earnings growth company, The Dow Chemical Company announced the sale of the primary assets from Dow's Thermoplastic Polyurethane (TPU) business to The Lubrizol Corporation. Financial terms of the sale were not disclosed.

The sale includes the production plant in La Porte, TX, customer lists, contracts and technology.

"The decision to sell the TPU business was based primarily on the fact that the TPU business is healthy and growing, but does not align to Dow's transformational strategy," said Mike Szabo, Global Product Director, TPU. "Our priority now is working closely with Lubrizol to ensure a safe and seamless transition."

"Dow's portfolio management strategy represents smart, market-oriented business decisions. We are constantly reviewing, replenishing and trimming our portfolio as markets change and evolve," said George Biltz, Corporate Vice President, Strategic Development and Planning. "This sale allows Dow to unlock the value of a strong, healthy business and direct resources to growth projects."

About Dow

With annual sales of $54 billion and 46,000 employees worldwide, Dow is a diversified chemical company that combines the power of science and technology with the " Human Element " to constantly improve what is essential to human progress. The Company delivers a broad range of products and services to customers in around 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.

Source: Dow Chemical Company

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