Dow Chemical (Midland, Michigan / USA; www.dow.com) has established a new “Dow Portfolio Optimization” business group that will include much of its plastics portfolio and plans to submit these products to a “strategic evaluation.” It said the goal will be to define how best to maximise the businesses’ “long-term value to the company.”

The new group, to be headed by George Blitz, who currently runs Dow’s Specialty Plastics and Elastomers portfolio, will include the units “Saran” (shrink wrap) Products and Specialty Films, Polycarbonate, Compounds and Blends, Synthetic Rubber and Specialty Copolymers.

North America’s largest chemical producer said the targeted products could be realigned to other group units, brought into joint ventures or divested. It added that other businesses are likely to be assigned to this portfolio “as they are assessed for strategic alignment with Dow’s transformational strategy.” In December 2007, Dow announced plans to spin off some of its commodity plastics operations into a joint venture with Kuwait’s Petrochemical Industries Company (PIC, Sabahiya; www.pic.com.kw) – see Plasteurope.com of 17.12.2007.