Abstract
DOW CHEMICAL will raise prices by up to 25% on July 1, after already increasing them by as much as 20% on June 1. Like other chemical companies, Dow is trying hard to offset economic slowdowns in the U.S. and Europe and rising costs for both energy and raw materials. Dow is going a step further, however, and is also idling or decreasing production at some plants. It has already reduced its worldwide ethylene oxide production by 25%, its North American acrylic acid production by 30%, and emulsion polymer capacity in North America and Europe by up to 25%. Added to these will be 40% production cuts in styrene, 15% in polystyrene, and 20% in Styrofoam insulation, all in Europe. Dow’s automotive unit will also trim costs at facilities and cut jobs. Dow CEO Andrew N. Liveris calls the measures “extremely unwelcome but entirely unavoidable. For the first half of 2008, our feedstock and ...
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