Dow layoffs and shutdown: Dow Chemical sells 935 million U.S. dollars of assets
News on Wednesday —- The Dow Chemical Company (DOW) said that as part of its cash to reduce debt and improve the position of part of the plan,the company will sell 935 million U.S. dollars of assets.
The company stated that it had already agreed to sell the rights and interests of a refinery in the Netherlands to Valero Energy Corp (VLO) with 725 million U.S. dollars. This company expects the price the ownership change have no immediate influence on the refinery operations and 400 employees.
The company will also sell its calcium chloride business to an undisclosed factory with 210 million U.S. dollars. The sale is expected to be completed in June.
Dow said that its assets that the company sell this year would reach 2600 million U.S. dollars, which is more than the amount in the original plan.
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