14 May 2010 15:39 [Source: ICIS news]
MUMBAI (ICIS news)--Dow Chemical is looking to focus on its performance plastics and chemicals businesses as part of a strategy shift that the company is undergoing, a senior company executive said on Friday.
"Dow would preferentially invest in the performance side of the business," said Vipul Shah, the company's president in charge of ?xml:namespace>
Shah was speaking from the sidelines of the Asian Petrochemicals Industry Conference (APIC) in
"Investments in Dow's basic chemicals business would be driven from our performance segment versus investing in basics per se," Shah said.
"We are also more open to consortium crackers where we the feedstock to the need of our performance businesses," he added.
However, the company would not be moving away from basic chemicals as part of its shift corporate strategy, Shah noted. He said: 'We still need basics as it is our building block."
The company was also looking into investing heavily into research and development, Shah said.
"This is the first year that Dow has spent more on research and development globally then spend in manufacturing and engineering... That's a big shift for a company," he added.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|