Dow takes over polyurethanes JV
Dow Polyurethanes, a business group of America’s The Dow Chemical Company, is to take full control of Pacific Plastics (Thailand) Limited (PPTL) — a joint venture between Dow, Siam Cement Group and two other minority partners which owns and operates a polyols and polyurethane systems facility in Map Ta Phut, Thailand — through the acquisition of the 51% remaining shares in the company. No financial details of the transaction have been disclosed.
“In line with Dow’s strategy of investing in its downstream performance businesses, Dow Polyurethanes has been expanding globally through acquisitions and geographic expansions,” said Pat Dawson, president of Dow Polyurethanes. “This action exemplifies our commitment to the Asia Pacific region.
Dow Polyurethanes is said to be the world's largest producer of polyether polyols, and produces aromatic isocyanates such as MDI and TDI, it is also a major supplier of propylene oxide. The company’s polyurethane products and fully formulated polyurethane systems are used for applications such as shoe soles, construction, automotive components, and furniture and bedding.
