| 词条 | K-Dow Petrochemicals |
| 释义 |
name = K-Dow Petrochemicals | type = Joint Venture | location = Michigan, }} K-Dow Petrochemicals was a planned $17.4 billion joint venture between The Dow Chemical Company and Petrochemical Industries Company (PIC) of the State of Kuwait, a wholly owned subsidiary of Kuwait Petroleum Corporation (KPC).[1] A joint venture between the two companies was signed in July 2008.[2] However, critics to the deal from members of the Kuwaiti parliament [2] lead to its collapse in December 2008.[3] Dow sued PIC, and was awarded over $2 bn damages by a non-governmental court in 2012.[4]HistoryFormationK-Dow Petrochemicals was to be a multinational corporation specializing in the manufacturing of plastics. It was an $11 billion joint venture between The Dow Chemical Company and Petrochemical Industries Company (PIC) of the State of Kuwait, a wholly owned subsidiary of Kuwait Petroleum Corporation (KPC).[5] On July 15, 2008, the two companies announced the location of their headquarters was to be in Southeast Michigan.[5] In the third quarter 2008 earnings conference call, Dow Chemical officials stated the K-Dow joint venture was on track to close by the end of the year. On December 1, 2008, the two companies announced that they had signed a memorandum of understanding outlining agreed-upon details about the joint venture. The transactions was expected to close on January 1, 2009. Operations were expected to begin on that same date.[1] BreakupCiting the global recession that begin in the later half of 2008, the Kuwaiti government scuttled the partnership prior to its launch on December 28, 2008.[6] Dow currently has arbitration pending against KPC. The original MOU had a damages clause that allowed for damaged up to $2.5 Billion. Dow Chemical has stated the damages they are seeking may be in excess of that amount. SubsidiariesAs a part of the Joint-Venture formation two of Dow Chemical's current joint-ventures with Kuwait Petroleum Corporation were to be transferred to K-Dow.
References1. ^1 {{cite web |url=http://biz.yahoo.com/prnews/081201/clm029.html?.v=101 |title=Dow and PIC of Kuwait Sign Binding Joint Venture Agreement to 'Launch K-Dow Petrochemicals | publisher=PR Newswire |accessdate=2008-12-01}} {{Dead link|date=October 2010|bot=H3llBot}} 2. ^1 Dow signs JV with PIC July 2008 {{webarchive |url=https://web.archive.org/web/20120717042842/http://www.dow.com/news/corporate/2008/20080715a.htm |date=July 17, 2012 }} 3. ^[https://www.reuters.com/article/2008/12/29/us-kuwait-dow-idUSTRE4BR1M920081229 Kuwait cancels $17 billion joint venture, Reuters Dec 28 2008] 4. ^International Chamber of Commerce International Court awards $2.16 bn to Dow in Kuwait arbitration 5. ^1 Christoff, Chris (July 15, 2008).New Dow Chemical venture to bring 800 jobs to southeastern Michigan{{Dead link|date=August 2018 |bot=InternetArchiveBot |fix-attempted=yes }}.The Detroit Free Press. Retrieved on July 2, 2010. 6. ^{{cite web|url=http://www.freep.com/article/20081228/BUSINESS07/81228030 |work=Detroit Free Press |title=Kuwait scraps$17.4 billion venture with Dow Chemical |author=Diana Elias |publication-date=December 28, 2008 |accessdate=December 28, 2008 }}{{dead link|date=June 2016|bot=medic}}{{cbignore|bot=medic}} External links 2 : Chemical companies of the United States|Petrochemical companies |
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