EU sets Dow Chemical-CPC JV approval deadline

31 March 2008 16:59  [Source: ICIS news]

BRUSSELS (ICIS news)--The proposed joint venture of the styrenics businesses of Dow Chemical and Chevron Phillips Chemical (CPC) is expected to win EU clearance by 30 April, the European Commission (EC) said on Monday.

The EC said that the deal should be cleared under its simplified merger review process, used in cases where no competition issues are foreseen.

This is because the 50:50 America Styrenics joint venture will focus on the manufacture and sale of polystyrene in North, Central and South America only and will not operate in Europe, according to the two companies.

The businesses involved in the venture, which was announced in April last year, are based in the US, Colombia and Brazil. \

They comprise a styrene monomer plant and six polystyrene plants owned by Dow as well as a styrene monomer plant and a polystyrene plant owned by CP Chemical.

For more on styrene and polystyrene visit ICIS chemical intelligence

By: Chris Jones
+44 20 8652 3214

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