Dow Chemical has placed all its plastics units into one division, Performance Plastics, that will be headed by Howard Ungerleider. Ungerleider, who had acted as VP of investor relations, has now been promoted to a senior VP for Dow, and named president for the newly formed division.
Dow's Performance Plastics division will include its Solution Polyethylene, Wire & Cable, Elastomers, and Films and Packaging Resins units, as well as its Packaging and Converting Unit, which had been part of the Advanced Materials Division.
Dow said the move reflects its "portfolio management" efforts of the last two years, which have shifted emphasis away from commodity plastics products. As part of this, the company cited its earlier divestment of its Styron styrenics unit.
Dow will now have six business divisions, including Agrosciences, Advanced Materials, Performance Products and Systems, Performance Plastics, Chemicals and Energy, and Hydrocarbons. The Advanced Materials unit is largely comprised of the former Rohm and Haas's businesses, which Dow acquired in July 2008. That unit includes several plastics-based technologies covering electronic materials, coatings, water solutions, adhesives, personal care, biocides, and building and packaging materials.
In 2008, Dow had initially rolled its polyethylene, ethyleneamines, ethanolamines, polypropylene, polycarbonate, polypropylene technology licensing, and market-related catalysts into a 50:50 joint venture with Kuwait Petroleum Corp.'s Petrochemical Industries Company (PIC), with the business to be called K-Dow Petrochemicals. In the midst of the global economic meltdown however, PIC ultimately pulled out of the deal. —PlasticsToday Staff