Dow Chemical (DOW): Sue Kuwait
January 6, 2009 by Douglas A. McIntyre
Dow Chemical (DOW) seemed to be upset that the government of Kuwait walked out on the big joint venture they had agreed to.
According to MarketWatch: Dow Chemical Co. (DOW) said Tuesday it would seek legal, operational and financial actions to enforce its rights under a failed joint-venture deal with Kuwait’s Petrochemical Inc. "Pursuing legal options is not a decision we take lightly, especially because of the longstanding partnerships we have established in Kuwait over the past decade, but PIC is in breach of contract, and we must take action to protect the interests of our company and our shareholders," Dow Chief Executive Andrew Liveris said in a statement.
Douglas A. McIntyre
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