Credit Suisse to Advise Hanwha on Possible Dow Chlor-alkali Buy
No potential buyers have yet come forward announcing plans to buy the chlor-alkali business Dow Chemical has said it plans to sell. However, South Korea's Hanwha Chemical said it has engaged Credit Suisse to advise it on possible purchases.
A spokesman for Hanwha told the news agency Reuters its interest is "in the early stages."
As part of plans to "right size" its chlorine footprint to meet its needs in downstream markets, Dow in December 2013 said it would carve out "a significant portion" of its chlorine value chain over the next two years.
The U.S. group said it expected to dispose of assets with $5 billion in annual revenue, including more than 40 production units at 11 sites employing nearly 2,000 people.
