Dow Inc: Seeking buyers for German chemical parks infrastructure
According to a news item published by Arno Schuetze at Reuters on 18 February 2021, Dow Inc has put German infrastructure assets up for sale.
Sources close to the matter told Reuters, Dow had put up the sale in a potential EUR 800 million (USD 966 million) deal as it seeks cash for investment elsewhere. According to the Reuters report, Chief Executive James Fitterling last month said that Dow would continue to offload infrastructure companies from its balance sheet and make use of the funds for capex, smaller acquisitions or share buybacks. While Dow would sell the infrastructure at petrochemicals sites in Stade, Schkopau and Boehlen, it would continue to produce plastics and intermediates there, paying usage fees to the new owner. Dow is the main user but not the only one operating in the three chemical parks.