Dow Chemical raises asset sale target by $1.5 bln-$2.0 bln

March 19 Wed Mar 19, 2014 9:21am EDT

March 19 (Reuters) - Dow Chemical Co said it aims sell a further $1.5 billion to $2.0 billion worth of assets as it looks to narrow its focus to electronics, agriculture and packaging.

Dow, which is seeking to lower its exposure to volatile commodity prices, now aims to raise $4.5 billion to $6.0 billion from asset sales by the end of 2015, Chief Executive Andrew Liveris said on a call to update shareholders on the company's strategy. (r.reuters.com/pag77v)

The company is under pressure from hedge fund titan Daniel Loeb to spin off its lucrative but slow-growing petrochemical unit and focus on specialty materials. (Reporting by Swetha Gopinath in Bangalore; Editing by Savio D'Souza)

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.