in this issue
People & Business :: Earnings/Finance
Dow awarded final $2.2-billion payment in K-Dow arbitration
1:07 PM MDT | May 21, 2013 | —Lindsay Frost
A final resolution has been completed in the K-Dow arbitration between Dow Chemical and the Petrochemical Industries Company (PIC; Kuwait City, Kuwait), with Dow confirming on 7 May that it had received a direct cash payment of $2.2 billion from PIC. The money was awarded to Dow by the International Chamber of Commerce’s (ICC) international court, which last year ruled against PIC for pulling out of the $17.4-billion K-Dow petrochemical joint venture in 2008 amid the global economic crisis. Dow says the cash payment includes damages as well as recovery of...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee