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Dow Chemical in Deal to Enhance Performance Plastics

posted Mar 21, 2013, 4:47 AM by Jignesh Ajmera
Published March 18, 2013
Dow Jones Newswires
Dow Chemical Co. (DOW) has signed a long-term ethylene off-take agreement with a new Japanese joint venture that will allow the chemical producer to enhance its Performance Plastics franchise.
The joint venture is being formed between Japanese companies Idemitsu Kosan Co. (5019.TO) and Mitsui & Co. (MITSY, 8031.TO) to construct and operate a Linear Alpha Olefins unit on the U.S. Gulf Coast.
Dow--the world's second-largest chemical producer by revenue--is a large consumer of Linear Alpha Olefins and utilizes them within its Performance Plastics franchise for the production of high-performance materials. The company said it expects the agreement with the joint venture will enable a long-term supply and purchase relationship for Linear Alpha Olefins, which will enhance its Performance Plastics franchise.