02 December 2013 21:20 [Source: ICIS news]
NEW YORK (ICIS)--Dow Chemical does not plan to carve out its agricultural sciences business, but is open to any deal that would create shareholder value, its chief executive said on Monday.
“There’s a convergence going on between polymer science, material science and agricultural science. We are primarily an ag chem business with a very good seeds, traits and oils business,” said Andrew Liveris, chairman, president and CEO of US-based Dow.
“We don’t see a need to carve that out anytime soon. However … we are always looking at the best value for our shareholders. And if that deal ever came up, you can rest assured, there’s nothing we wouldn’t do to improve long-term shareholder growth for our company,” he added.
Liveris was responding to an analyst question on a conference call about the carve-out of its chlorine and derivatives assets, which was announced earlier on Monday.
The businesses being carved out for divestiture – which could includes sales or partnerships – are US chlor-alkali, global chlorinated organics and global epoxy resins, along with associated brine and energy assets. Total sales of the businesses are around $5bn (€3.7bn).
($1 = €0.74)
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