Dow eyes European plant sales

Faced with a weak competitive landscape in Europe that is unlikely to improve anytime soon, Dow is the latest company to put its European chemical assets under review. Other large chemical firms are already downsizing in the region. LyondellBasell Industries is considering the sale or closure of some of its European polyolefin plants. ExxonMobil and Sabic have both announced plans to close ethylene crackers in Europe. And BASF has been downsizing at its flagship location in Germany. Dow’s review, which the firm expects to complete next year, will focus on its polyurethane business, which makes raw materials such as methylene diphenyl diisocyanate (MDI), propylene oxide, and polyether polyols. The company says the assets under review have annual sales of roughly $2.9 billion, based on 2023 figures. During a conference call with analysts to discuss third-quarter financial results, Dow CEO Jim Fitterling said the review will be “consistent with our best