Dow to Get $2.48 Billion for Failed Kuwait Joint Venture
This article is for subscribers only.
Dow Chemical Co., the largest U.S. chemical maker by sales, will get $2.48 billion from Petrochemical Industries Co. of Kuwait for a canceled joint venture, an arbitration panel ruled.
The ruling comes after Petrochemical Industries, a unit of state-owned Kuwait Petroleum Corp., canceled a contract to form K-Dow, a 50-50 venture with Dow’s plastics unit, in December