Dow's Engineering Plastics business announced it is exiting ABS (Acrylonitrile Butadiene Styrene) and SAN (and Styrene Acrylonitrile) sales in the Americas for all non-automotive markets by February 1, 2008. Dow ABS/SAN assets in Europe are not impacted by this announcement.
"This decision has been made after a thoughtful and prudent assessment that clearly indicated the fundamentals of the market do not support our continued involvement," said Mark Remmert, Engineering Plastics Business Director, Dow. "It is the ultimate intention of the ABS business to convert the Allyn's Point (Gales Ferry, Conn.) and Hanging Rock (Ironton, Ohio) trains to polystyrene production and include them in the proposed styrenics Joint Venture between Dow and Chevron Phillips Chemical."
Mass ABS production in Midland, Mich., will continue in support of the automotive industry and be marketed exclusively through Dow Automotive. All products will be supplied from the Midland, Mich. plant.
ABS and SAN are plastics used in a wide variety of applications within the construction, automotive and durables markets.
Dow is a diversified chemical company that harnesses the power of innovation, science and technology to constantly improve what is essential to human progress. The Company offers a broad range of products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Built on a commitment to its principles of sustainability, Dow has annual sales of $49 billion and employs 43,000 people worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.