25 February 2008 17:21 [Source: ICIS news]
HOUSTON (ICIS news)--Dow Chemical has identified several business units that it could sell, realign internally or incorporate into joint ventures, the US chemical company said on Monday.
The units include Saran products and specialty films, polycarbonate, compounds and blends, synthetic rubber and specialty copolymers.
These units will be placed in a newly created business group called Dow Portfolio Optimization, the company said.
Other units could also be placed in Dow Portfolio Management, meaning they could also be sold, realigned or incorporated into a joint venture, it added.
The president of the business group will be George Biltz, who currently heads Dow's specialty plastics and elastomers portfolio.
"Within any organisation, systematic portfolio management is fundamental to a company's evolution and sits right at the heart of long-term shareholder value creation," according to a statement by Dow CEO Andrew Liveris.
"Our newly created portfolio brings this highly important activity squarely into the spotlight, ensuring we drive it forward with discipline, with diligence and with due speed," Liveris added.
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