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Dow Readies Legal Action Against Kuwait’s PIC

2:16 PM MST | January 13, 2009 | KARA SISSELL

Dow Chemical says it will pursue legal action against Kuwait’s Petrochemical Industries Company (PIC), after Kuwait’s decision last month to pull out of their planned $17.4-billion joint venture, K-Dow. The company says it has been approached by other interested parties about possible jv’s with Dow for the basic plastics businesses. Liveris: Other options and partners to consider. The Kuwaiti government late last month pulled its approval of the deal, which included plans for PIC to take a 50% stake in Dow’s polyethylene, ethylene...

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