Chemical Week Magazine :: Business & Finance :: United States/Americas
Dow Wins $2.16-Billion Award in K-Dow Arbitration
11:40 AM MDT | June 1, 2012 | —Robert Westervelt and Natasha Alperowicz
The International Court of Arbitration of the International Chamber of Commerce (ICC) has awarded Dow Chemical $2.16 billion in damages in an arbitration case related to Petrochemical Industries Co. of Kuwait’s (PIC) decision to abandon the planned K-Dow joint venture with Dow (CW, Jan. 6/13, p. 5). Dow says the award is final and binding. “This outcome brings resolution and closure to the issue,” says Andrew Liveris, Dow’s chairman and CEO. “We remain focused on continuing to move forward with our transformation and profitable...
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