25 April 2013 21:23 [Source: ICIS news]
HOUSTON (ICIS)--Dow Chemical expects little effect from Brazil's recently announced tax-relief programme aimed at the nation's domestic petrochemical industry, the company's chief executive said on Thursday.
Much of Dow's business in Brazil comes from the company's AgroSciences business, which is unaffected by the measures, said Dow CEO Andrew Liveris. He made his comments during a 2013 Q1 earnings conference call.
Among its plastics, most are intended for specialised end uses and should not be affected from the measure, he said. "We don’t see therefore the down drop from the commodity petrochemical side as much as others, for the nature of our mix," Liveris said.
When Brazil announced the measure earlier this week, its finance minister said it should help the country's chemical industry compete against US products, which have a cost advantage due to the advent of shale gas.
|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|
Asian Chemical Connections