Dow agrees to sell Italian MDI plant

ZURICH, Switzerland (Nov. 22)—Dow Chemical Co. has agreed to sell its Brindisi, Italy, methylene diphenyl diisocyanate plant to Chimica D'Agostino S.p.A., an Italian chemicals firm. The parties have signed a letter of intent concerning the 75,000 metric tons-per-year unit in southern Italy and expect to complete the deal by year-end, a Dow spokesman said. Dow acquired the facility in 2001 from EniChem S.p.A. as part of its takeover of EniChem's polyurthanes business. The factory has been on extended shutdown since the beginning of 2002.