Dow extends European asset review to further reduce spending

Midland, Michigan – Dow Inc. has extended a previously announced review of its European assets as part of a move to reduce spending, right-size capacity, and deliver cash support.

The US chemicals major initially announced a strategic review of its European assets in October last year, focusing primarily on its polyurethanes business, which accounts for 20% of sales in the Europe, Middle East, Africa, and India (EMEAI) region.

At the time, the group said it had identified three specific assets – two in Germany and one in the UK – for potential idling or closure.

In a 24 April first quarter statement, Dow introduced an additional scope, including “three upstream assets across all operating segments for further action.”

Dow did not provide further details but said the extended review will deliver $6 billion (€5.3 billion) in cash support to manage “the extended downcycle.”

The move is driven by challenges such as weak demand recovery, high energy costs, and a complex regulatory environment in Europe.

Dow has previously stated that it aims to complete the review by mid-2025 and is considering all "value-creating options" for its polyurethanes business in the region.