Midland, Mich. — Dow Inc. plans to carry out a strategic review of some of its assets in Europe, primarily in its polyurethanes business.
Europe's regulatory environment has led to increasing challenges across many sectors and value chains, according to Chairman and CEO Jim Fitterling. This is a driver behind the asset review.
"Since 2023, we have proactively taken targeted actions to optimize our global asset footprint," Fitterling said in an Oct. 24 announcement. "We will continue to optimize our global footprint, while maximizing cash generation as we make progress on our higher-return investments that will drive long-term shareholder value."
The Midland-based company reported net sales in the third quarter of $10.9 billion, a 1 percent increase compared to the same quarter in 2023.
In its industrial intermediates & infrastructure business, which includes polyurethanes, sales were down 2.4 percent, falling from $3.04 billion in the 2023 quarter to $2.96 billion.
In the packaging & specialty plastics segment, which includes polyethylene, net sales were up 1 percent, to $5.5 billion, compared to the year-ago period. Results were driven by higher PE prices in all regions except Latin America.
"Our cost-advantaged footprint in the Americas continues to provide a strong competitive edge, enabling Dow to capture demand growth in attractive markets. However, a meaningful recovery has yet to materialize in Europe and China," Fitterling said.