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Dow Ready to Pursue Legal Action Against Kuwait, Seeks Alternative JV Partners

8:37 AM MST | January 6, 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 the $17.4-billion K-Dow joint venture. Dow also says it has been approached by other interested parties about possible joint ventures with Dow for the basic plastics businesses. The K-Dow joint venture agreement, which included plans for Kuwait’s PIC to take a 50% stake in Dow’s polyethylene, ethylene, ethanolamines, polypropylene, and polycarbonate businesses collapsed late last month...

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