Dow Chemical Provides Updates On Divestment Program - Quick Facts

(RTTNews) - Dow Chemical Co. (DOW) Thursday said it is marketing Angus Chemical, Sodium Borohydride and AgroFresh for divestment as part of its plan to divest $4.5 billion to $6 billion of non-strategic assets.

Dow expects the sale of the businesses, which it expects to complete in early 2015, to generate more than $2 billion in proceeds. The company's divestitures total $1.3 billion to date, and it now expects the proceeds of the program to be at the upper end of the $4.5 billion to $6 billion range.

Dow also said it made progress in the carve-out of its U.S. Gulf Coast Chlor-Alkali/Chlor-Vinyl, Global Chlorinated Organics and Epoxy businesses, with the focus now on standing up the carve- out within a separate structure. The company expects signed agreements early in the second quarter of 2015.

Furthermore, the company completed the sale of a substantial portion of its North America rail car fleet, generating around $450 million cash proceeds.

The company also announced that it restructured its joint venture with ExxonMobil (XOM), Univation Technologies, to make it a wholly-owned unit of Dow. Dow said it is working to rationalize its position in joint ventures that no longer align with its strategy.