CORRECTED - UPDATE 2-Dow to cut ethylene production, take charge

* Sees $100 mln in savings from production shutdowns

* To take charge for asset sales

* Shares slip 0.4 percent (Deletes reference to 2,500 job cuts in 4th paragraph)

NEW YORK, July 1 (Reuters) - Dow Chemical Co (DOW.N) will shut down several of its ethylene operations and take a charge for the expected loss of the sale of assets, the company said on Wednesday.

The production shutdowns will save the company $100 million annually. They come after Dow's cutbacks last year in other operations that used ethylene, a component of products ranging from plastic films to PVC piping and coolants.

Dow has been seeking to shift its portfolio to higher-margin specialty chemicals and pay down billions in debt it took on when it purchased Rohm and Haas earlier this year.

The shutdowns will affect operations at Dow's Hahnville and Plaquemine plants in Louisiana.

Production of ethylene has shifted to the Middle East in recent years as oil and gas producers have taken advantage of lower costs in the region for the hydrocarbons that are turned into the commodity chemicals.

Dow will also take an impairment charge on the expected loss from the sale of some acrylic monomer and specialty latex assets, which it agreed to divest in order to obtain regulatory approval for the Rohm and Haas acquisition.

Dow shares, which at Tuesday's close were up 7 percent this year, slipped 0.4 percent to $16.08 in early trading on the New York Stock Exchange. (Reporting by Matt Daily; Editing by Lisa Von Ahn)