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Dow will sell MDI plant to an Italian Company

Published on 2002-12-17. Author : SpecialChem

 

The negotiation between Dow Chemical and Chimica d'Agustino has been concluded positively for the cession of Dow MDI plant located at Brindisi, Italy. According to D'Agustino, the operation has a total value of approximately 160 million euro. Dow hopes to complete the transaction before end of 2003.

This plant produces 75 000 m.t. of MDI each year. It was owned by Enichem and acquired by Dow in 2001 with two other plants: a TDI unit at Porto Margheta and a polyols unit at Priolo (both located in Italy). Dow says the TDI plant "is a world-class competitive asset" but the MDI and polyols units would require significant capital expenditure to bring them to world-class standard.
Dow will now concentrate its PU manufacture in Europe at three sites: Terneuzen, the Netherlands for polyols; Porto Margheta for TDI; and Stade, Germany for MDI.


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