17 May 2011 22:46 [Source: ICIS news]
By Joseph Chang
NEW YORK (ICIS)--US-based Dow Chemical is aiming to sell its polypropylene (PP) business and its PP catalyst licensing business separately, sources in the financial community said on Tuesday.
“They are bringing the PP business and the PP catalyst licensing business to market separately,” said one source.
US-based investment bank Citi is handling the sales, sources said.
“Commodity plastics that have anything to do with propylene or ethylene, in the long-term, will not be in Dow's future,” said Dow chairman and CEO Andrew Liveris, on the company’s first-quarter conference call in late April.
While Liveris would not identify which plastics businesses were being considered for divestiture, its PP and high density PE (HDPE) units were classified under “basic plastics” in its first-quarter earnings presentation.
Dow’s PP catalyst licensing business includes its UNIPOL, CONSISTA D7000 Donor and SHAC Catalyst process technologies.
Dow and Citi did not immediately respond to requests for comment.
Earlier this year, a market source said that Dow aimed to sell its four PP plants.
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