Thu, 25 Apr 2013 | BUSINESS SALE
US firm Dow Chemicals has put its plastics business in the UK up for sale.
The company confirmed this week that a number of plants in the country are to be sold, including the plastic additive-producing site in Grangemouth, which is being marketed as a going concern.
Falkirk East MP Michael Connarty visited the site's manager Luis Argilaguet recently and told the Falkirk Herald more about the situation: “The site is being prepared for sale. Which means a continuing emphasis on the consistent quality of production and efficiency, including health and safety.”
He added that the team at the plant are positive that the business will be sold as a going concern and won't be sold off and closed down.
At the moment it is uncertain who the buyer will be, but talks have reportedly been held with representatives from Scottish Enterprise's Chemicals Group to discuss what could be done to make the facility more attractive to potential buyers.
The business sale is the result of an ongoing portfolio review of Dow's business. Its divestiture list is in the region of $1.5 billion at the moment, and the sales are planned to take place over the next 18 months.
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