Business News
Dow Announces the Sale of the Thermoplastic Polyurethane Business
Tuesday 13. January 2009 - As part of its strategy to become a consistent earnings growth company, The Dow Chemical Company announced the sale of the primary assets from Dows Thermoplastic Polyurethane (TPU) business to The Lubrizol Corporation. Financial terms of the sale were not disclosed.
The sale includes the production plant in La Porte, TX, customer lists, contracts and technology.
“The decision to sell the TPU business was based primarily on the fact that the TPU business is healthy and growing, but does not align to Dows transformational strategy,” said Mike Szabo, Global Product Director, TPU. “Our priority now is working closely with Lubrizol to ensure a safe and seamless transition.”
“Dows portfolio management strategy represents smart, market-oriented business decisions. We are constantly reviewing, replenishing and trimming our portfolio as markets change and evolve,” said George Biltz, Corporate Vice President, Strategic Development and Planning. “This sale allows Dow to unlock the value of a strong, healthy business and direct resources to growth projects.”