The partners have informed us that there will be official written notification of the decision within the next few days.
Dow is extremely disappointed with the decision and is in the process of evaluating its options pursuant to the Joint Venture Formation Agreement. While disappointed in this outcome, Dow remains committed to its Middle East Strategy.
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Dow Chemical receives notification of Kuwait decision to cancel K-Dow partnership
- United Arab Emirates: Monday, December 29 - 2008 at 09:28
- PRESS RELEASE
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Dow Chemical Company has been verbally informed by our partners at the Kuwait Petroleum Corporation (KPC) and Petrochemicals Industries Company (PIC) about a decision made by the Kuwait Supreme Petroleum Council (SPC), to reverse its prior approval of the agreement between Dow and PIC to enter into K-Dow Petrochemicals, a planned 50-50 joint venture company.
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Posted by Rana MesbahMonday, December 29 - 2008 at 09:28 UAE local time (GMT+4)
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About The Dow Chemical Company:
With annual sales of $54bn and 46,000 employees worldwide, Dow is a diversified chemical company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress.
The Company delivers a broad range of products and services to customers in around 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. References to "Dow" or the "Company" mean The Dow chemical Company and its consolidated subsidiaries unless otherwise expressly noted.
For further information , kindly contact:
Hani Wassim
Dow Chemical India, Middle East & Africa (IMEA)
Tel: +97143123668
or
Anan Ibrahim
Jr. Account Executive
GolinHarris
Capricorn Tower, 7th Floor
Sheikh Zayed Road
P.O.Box 116462, Dubai, UAE
Tel:+97143323308
Fax:+97143316733
With annual sales of $54bn and 46,000 employees worldwide, Dow is a diversified chemical company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress.
The Company delivers a broad range of products and services to customers in around 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. References to "Dow" or the "Company" mean The Dow chemical Company and its consolidated subsidiaries unless otherwise expressly noted.
For further information , kindly contact:
Hani Wassim
Dow Chemical India, Middle East & Africa (IMEA)
Tel: +97143123668
or
Anan Ibrahim
Jr. Account Executive
GolinHarris
Capricorn Tower, 7th Floor
Sheikh Zayed Road
P.O.Box 116462, Dubai, UAE
Tel:+97143323308
Fax:+97143316733
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