US-based Dow Chemical has completed the sale of Dow's global Polypropylene (PP) business to Brazil's Braskem.
The transaction included Dow's polypropylene manufacturing facilities at Schkopau and Wesseling, Germany, as well as Freeport and Seadrift1, Texas, US.
The two companies will continue to evaluate potential future collaborations on growth opportunities in connection to their strategies.
Dow chairman and CEO Andrew Liveris said this divestment is in line with the company's strategy to transform its Performance Plastics business to focus on downstream, technology-differentiated solutions.
''It also allows us to both reduce debt and liberate capital and resources for Dow's higher growth, higher margin businesses," Liveris added.
