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The new 50:50 joint venture between Dow Chemical Co., Midland, Mich., and Petrochemical Industries Co. (PIC), sub. of Kuwait Petroleum Corp., was officially launched Jan. 1. PIC makes chemical fertilizers, ethylene, polyethylene, and polypropylene. The new venture, called K-Dow Petrochemicals, is said to be the leading global supplier of petrochemicals and plastics, with anticipated sales of $15 billion. With this action, Dow has moved its PE, PP, PP technology licensing, and polycarbonate ����ýes into K-Dow. K-Dow also includes two pre-existing joint ventures between Dow and Kuwaiti interests in PET and ethylene glycol.