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Dow and Kuwait's PIC to Divest Italian Unit of Equipolymers

8:35 AM MST | January 28, 2009 | Natasha Alperowicz

Dow Chemical and Petrochemical Industries Co. (Safat, Kuwait), equal partners in Equipolymers (Horgen, Switzerland), a producer of purified terephthalic acid (PTA) and polyethylene terephthalate (PET) bottle resin, say they have decided to divest Equipolymers Srl, the Italian operation of Equipolymers, "due to disappointing financial results." The divestment includes a manufacturing site at Ottana, Italy as well as Equipolymers Srl as an ongoing business. "This decision was taken after careful consideration of all options and will affect...

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