The hottest Dow Chemical Company will sell another

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Dow Chemical Company will sell another $935million of assets

on May 21, Beijing time, Dow Chemical Company (Dow) said that as part of its plan to reduce debt and increase cash position, it will sell another $935million of assets for recycling

the company said it had agreed to sell its interest in a Dutch refinery to valeroenergycorp (VLO) for $725million. The company does not expect this change of ownership to have an immediate impact on the refinery's business and 400 employees

the company will also sell its calcium chloride business to an unnamed company for $210 million. The sale is expected to be completed in June

Dow said that this move made the total value of its assets sold this year reach $2.6 billion, ahead of the original plan

after completing a large acquisition last month, Dow is accelerating the reduction of its debt level

the company acquired Rohm and Haas for more than US $16billion last month. Andrewliveris, chief executive of Dow, was expected to receive a large cash injection of auto parts from a joint venture in the Middle East when signing the deal, but the plan to establish this joint venture failed at the end of last year. This is a huge drag on Dow's balance sheet and threatens its credit rating

since the completion of the acquisition of luomenha, which requires aluminum profiles to be put in and taken out repeatedly in different processes, Dow has taken active actions to reduce debt, including issuing new shares of $2.25 billion, including three listed companies including Pingmei, Shenma and Xinda Xincai, as well as long-term bonds of $6billion. The company also announced the sale of the mortonsalt division of Rohm and Haas for $1.7 billion, a deal expected to be completed by the middle of this year

Dow has also said it will cut at least 9500 jobs and close 20 factories

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