23 December 2015
MEGlobal is a world leader
in the manufacture and marketing of
monoethylene glycol and diethylene glycol (EG),
and is headquartered in Dubai, UAE.
Established in July 2004, MEGlobal currently markets
over 2.5 million metric tons of EG per year globally.
EG is used as a raw material in the manufacture of
polyester fibers (clothing and other textiles),
polyethylene terephthalate (PET) resins,
antifreeze formulations and other industrial products.
MEGlobal is a joint venture between
Dow and Petrochemical Industries Company (PIC) of Kuwait.
Through its ownership interest in EQUATE,
Dow retains a 42.5 percent ownership stake in MEGlobal.
Established in 1995, EQUATE is the operator
of an integrated world-scale manufacturing facility
producing more than 5 million tons annually
of high-quality petrochemical products, including
polyethylene, ethylene, and EG,
that are marketed throughout
the Middle East, Asia, Africa and Europe.
Formed in 2004, The Kuwait Olefins Company (TKOC)
is an international joint venture among
Dow, Petrochemical Industries Company (PIC),
Boubyan Petrochemical Company (BPC) and
Qurain Petrochemical Industries Company (QPIC).
EQUATE is the single operator of Greater EQUATE,
which includes TKOC, The Kuwait Styrene Company (TKSC),
and Kuwait Paraxylene Production Company (KPPC)
under one fully integrated operational umbrella
at Kuwait’s Shuaiba Industrial Area.
DETAILS
The Dow Chemical Company (NYSE:DOW)
announced that it has finalized
the transaction to sell its ownership interest in
to EQUATE Petrochemical Company K.S.C.
and has received $1.5 billion in pre-tax proceeds.
Dow had previously announced its intent
to optimize its ownership in its Kuwaiti Joint Ventures
and the closure of this transaction represents
progress toward delivering this commitment
For editorial information:
Rachelle Schikorra
+1 989 638 4090
ryschikorra@dow.com
WWW.CHEMWINFO.COM BY KHUN PHICHAI
