Commission approves Dow, PIC Kuwait JV

20 October 2008 12:59  [Source: ICIS news]

PARIS (ICIS news)--The European Commission has cleared the proposed $11bn (€8bn) joint venture (JV) of Dow Chemical and Petrochemical Industries Company (PIC) of Kuwait, it said on Monday. 

 

The K-Dow JV will manufacture and market polyethylene, polypropylene, polycarbonate, ethanolamines, ethyleneamines and ethylene glycol.

 

Dow is active in plastics and chemicals, agricultural sciences, hydrocarbons and energy products and services, while PIC produces fertilizers and petrochemicals.

 

The operation was examined under the simplified merger review procedure, said the Commission.

 

Dow Chemical and PIC, which is controlled by Kuwait Petroleum Corp (KPC), already operate the Equate JV in Kuwait. 

 

($1 = €0.74)

 

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By: Philippa Jones
+44 20 8652 3214



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