The K-Dow Petrochemicals joint venture of Dow Chemical Co., Midland, Mich., and Petrochemical Industries Co. (PIC) sub. of Kuwait Petroleum Corp. (KPC), was canceled on Dec. 28, just before it was to launch on Jan. 1.
The K-Dow Petrochemicals joint venture of Dow Chemical Co., Midland, Mich., and Petrochemical Industries Co. (PIC) sub. of Kuwait Petroleum Corp. (KPC), was canceled on Dec. 28, just before it was to launch on Jan. 1. The Kuwait Supreme Petroleum Council rescinded its approval of the venture due to the sharp global recession and falling oil prices. K-Dow would have taken over Dow鈥檚 PE, PP, polycarbonate and PP technology licensing 大象传媒es. Dow said it was 鈥渟hocked鈥 and 鈥渆xtremely disappointed鈥 by the Kuwaiti decision.
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