EC clears Dow to buy Enichem PU unit

BRUSSELS (April 6)—The European Commission has cleared Dow Chemical Co.´s bid to buy Enichem S.p.A.´s polyurethane business. "The acquisition will increase Dow´s presence in several PU products, but this will not lead to dominance given its limited market share and the significant presence of several important competitors such as Bayer, Lyondell, Huntsman, Shell, BP and BASF," according to an EC statement. In a separate ruling, the Commission also cleared Enichem´s full control of Polimeri Europa, which was a requirement for EC approval of Dow´s acquisition of Union Carbide. Polimeri was previously a 50:50 joint venture between EniChem and UC.