* To market polypropylene licensing and catalysts business
* Also seeking buyers for plastics additives unit
March 14 Dow Chemical Co, looking to
focus on high-margin businesses, said it plans to raise $1.5
billion from asset sales in the next 18 months and is seeking
buyers for its polypropylene licensing and catalyst business and
its plastics additives unit.
The largest U.S. chemical maker said it has divested
non-core businesses representing about $8 billion in revenue
"We are reviewing our entire portfolio and seeking even
further opportunities to optimize value: selectively pruning
assets that are no longer a strategic or financial fit ... "
Chief Executive Andrew Liveris said in a statement on Thursday.
Dow's polypropylene licensing & catalysts business provides
technology to make polypropylene. Its plastics additives
business supplies additives used in construction materials,
packaging containers, consumer appliances, electronics and
The company has been struggling with weak demand for
ethylene, propylene and other chemicals used to make plastics.
It said in October that it will shutter 20 plants and cut 5
percent of workforce, following a round of cost cuts.
It divested its global polypropylene business in 2011 to
Braskem SA, Brazil's biggest petrochemical company, for $323
million. The polypropylene licensing & catalysts business and
related catalyst facilities were not part of the sale.
Sales at Dow's performance materials business, which
includes plastic additives among other products, fell 7 percent
to $13.61 billion in 2012.
Sales at the company's performance plastics business,
holding the polypropylene unit among others, fell 11 percent to
$14.48 billion in the same period.
Dow shares were up about 0.5 percent at $33.36 on the New
York Stock Exchange on Thursday morning.