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Dow Chemical to Pay Down Debt With Kuwait Award

Dow Chemical Co. (DOW) said it will use part of a recent arbitration payment from the Petrochemical Industries Company of Kuwait to pay down up to $2 billion in debt this year.The company recently received $2.2 billion for damages in cash from its Kuwaiti partner--one of the largest ever from a corporate arbitration--after the state-owned firm pulled out at the last minute from a $17.4 billion deal to create a joint venture called K-Dow Petrochemicals.Dow has been focused on reducing debt as it also wrestles with tough market conditions facing the global chemical industry, with analysts expecting the company to report full-year earnings of $2.9 billion.The company on Friday said it is examining other ways to reduce high-cost instruments from its balance sheet, and that current and planned moves will save more than $100 million in annual interest expenses. Dow also said these will bring its net debt to total capital ratio to "well below" 40%, or pre-2008-crisis levels."We have been clea...

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  1. Dow to Get $318 Million from Kuwait's Petrochemical Industries

    Dow Chemical Co. (DOW) has been awarded an additional $318 million in an arbitration case with Petrochemical Industries Co. of Kuwait.The additional award is tied to...

  2. Dow Chem to Get $318 Million From Kuwait's Petrochemical Industries

    Dow Chemical Co. (DOW) has been awarded an additional $318 million in an arbitration case with Petrochemical Industries Co. of Kuwait.The additional award is tied to...

  3. Dow Chemical Names Mastercard CEO Banga to Board

    Dow Chemical Co. (DOW) named Ajay Banga, president and chief executive of Mastercard Inc. (MA), to its board, effective immediately."Ajay Banga brings to Dow an exce...

  4. Dow's Board Approves $1.5 Billion Share Buyback Program

    Dow Chemical Co. (DOW) said its board has approved a $1.5 billion share buyback program, as the company joins a slew of others aiming to enhance shareholder value."T...

  5. Dow Chemical Unveils $1.5B Buyback Deal

    Dow Chemical (NYSE:DOW) authorized on Friday a new buyback plan of up to $1.5 billion as it looks to prove its confidence it its financial position and return value ...

  6. Dow Chemical 4Q Profit Comes Up Short

    Dow Chemical Co posted lower-than-expected adjusted profit on Thursday, as demand withered for polyurethane and chlorine around the world, especially in China and Eu...

  7. Dow Chemical Posts Loss After Charges

    Dow Chemical Co. (DOW) swung to a fourth-quarter loss as the chemical company was weighed down by $990 million in charges tied to a restructuring unveiled last year ...

  8. Dow Chemical CEO on Global Perceptions of U.S., Jobs

    Dow Chemical CEO Andrew Liveris on energy, the importance of boosting job growth globally and perceptions of the U.S. overseas.

  9. Claman's Davos Notebook: Big Names, Bigger Ideas

    The only time I've ever been colder than yesterday was at an Operation Desert Storm rally I was covering back in the day as a cub reporter for Channel 6 News in Colu...

  10. Dow Chemical Severs Ties With Key Manufacturer Group

    Dow Chemical Co. (DOW) severed ties Friday with one of Washington's most powerful groups representing the manufacturing industry, citing differing opinions over whet...

  11. Big Business Splits Over Gas Exports

    The debate over whether the U.S. should export its abundant new supplies of natural gas is creating divisions within powerful groups that represent some of the natio...

  12. CEOs Push for Fiscal Cliff Deal

    A group of high-profile chief executives urged President Barack Obama and Republican congressional leaders on Tuesday to strike a deal to avert the "fiscal cliff" th...

  1. Dow Chemical sees farm products driving profit this year

    Dow Chemical Co posted a better-than-expected 33 percent jump in quarterly profit as farmers in the Americas bought more of its seeds and pesticides, overshadowing a...

  2. Dow Chemical Net Jumps 28% on Lower Expenses

    Dow Chemical Co.'s (DOW) first-quarter profit jumped 28% as margins widened and the chemical company controlled its expenses, while the year-earlier period was bogge...

  3. Dow Chemical 1st-Quarter Net Jumps 28% on Lower Expenses

    Dow Chemical Co.'s (DOW) first-quarter profit jumped 28% as margins widened and the chemical company controlled its expenses, while the year-earlier period was bogge...

  4. Dow Chemical First-quarter Profit Up, Sales Fall

    Dow Chemical Co. said Thursday first-quarter net income rose to $550 million, or 46 cents a share, from $412 million, or 35 cents a share, a year earlier. Adjusted e...

  5. Dow Chemical in Deal to Enhance Performance Plastics

    Dow Chemical Co. (DOW) has signed a long-term ethylene off-take agreement with a new Japanese joint venture that will allow the chemical producer to enhance its Perf...

  6. Dow Accelerates Noncore Business Divestiturese

    Dow Chemical Co. (DOW) is accelerating its divestiture of noncore businesses and is targeting nearly $1.5 billion of proceeds over the next 18 months.The world's sec...

  7. Dow Chemical Accelerates Noncore Business Divestitures; Targeting $1.5 Billion Proceeds

    Dow Chemical Co. (DOW) is accelerating its divestiture of noncore businesses and is targeting nearly $1.5 billion of proceeds over the next 18 months.The world's sec...

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