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Dow Chemical's Andrew Liveris Explains Exiting Commodity Chemicals

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Dow Chemical's Andrew Liveris Explains Exiting Commodity Chemicals

CEO, President and Chairman of Dow Chemical (NYSE: DOW) Andrew Liveris appeared on CNBC's Squawk Box Monday morning to discuss the company's decision to optimize their properties by separating and selling and/or spinning off their commodity chemicals.

The plan will lead to $5 billion in annual revenue and includes chlorine production plants and epoxy amongst others in a decision that will affect up to 40 factories and 2,000 workers.

Liveris noted their steady withdrawal from the commodities business and a transition into growth areas over the years, citing the production of chemicals used in commuter chips and meat packaging plastics as prime examples of that category.

Related: Earnings Expectations For The Week Of December 2

“We're the number one player in the world at putting chlorine and related assets up for sale, or you know, put it in a business model, with somebody [that] will benefit from it,” said Liveris.

“I think the timing is perfect for us and for the buyer.” In total, the plan will take a total of 12 to 24 months to execute, said Liveris.

Jason Cunningham had no position with the mentioned entities while writing this article. Visit Jason on Twitter at @JasonCunningham and @Benzinga.

 

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