(ICIS) -- US-based Dow Chemical is aiming to sell its polypropylene (PP) business and its PP catalyst licensing business separately, sources in the financial community said on Tuesday. ⌠They are bringing the PP business and the PP catalyst licensing business to market separately, said one source. US-based investment bank Citi is handling the sales, sources said. While Dow has not officially said its PP business is for sale, it has hinted at a divestiture.
⌠Commodity plastics that have anything to do with propylene or ethylene, in the long-term, will not be in Dow's future, said Dow chairman and CEO Andrew Liveris, on the company's first-quarter
conference call in late April.
While Liveris would not identify which plastics businesses were being considered for divestiture, its PP and high density PE (HDPE) units were classified under ⌠basic plastics in its first-quarter earnings presentation.