September, 30, 2011 - The Dow Chemical Company announced today the close of the sale of Dow’s global Polypropylene business to Braskem S.A. In addition to the transaction, the two companies will continue to evaluate potential future collaborations on growth opportunities in connection to their strategies.

“The global polypropylene divestiture is another major step in Dow’s transformation and a strong example of our disciplined approach to portfolio and business prioritization,” said Andrew N. Liveris, Dow Chairman and Chief Executive Officer. “This divestment is in line with our strategy to transform our Performance Plastics business to focus on downstream, technology-differentiated solutions. It also allows us to both reduce debt and liberate capital and resources for Dow’s higher growth, higher margin businesses.”

The transaction involved two industrial units in the United States and two in Germany, with a joint annual production capacity of 1.050 million tons of PP. The plants in the United States are located in Freeport and Seadrift, Texas, and will increase Braskem's U.S. PP production capacity by 50%, giving a total of 1.425 million tons/year. The two German plants are located in the Wesseling and Schkopau complexes and have a joint capacity of 545,000 tons/year. Dow’s Polypropylene Licensing & Catalyst business and related catalyst facilities were excluded from the scope of the transaction.