12 février, 2008 15:01
Dow Chemical's Canadian venture suspends operations
The Detroit News
Dow Chemical Co.'s joint venture in Canada will halt operations April 30, according to a statement released today.
Petromont and Co. LP said it will suspend its business for an indefinite period, citing difficulties in obtaining raw materials at competitive prices. The strong Canadian dollar also has posed challenges, the company said.
The petrochemical company, jointly owned by Dow and an investment unit of the Quebec government, operates two plants in the Montreal region, with $750 million in annual revenue.
The company's facilities will be maintained in case a bidder arises or the market conditions for Petromont's products include.
