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between the two companies was signed in July 2008. However, critics to the deal from members of the
Kuwaiti parliament lead to its collapse in December 2008. Dow sued PIC, and was awarded over $ 2 bn damages by a non-governmental court in 2012.
173:. 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
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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.
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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.
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Citing 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.
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As 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.
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169:(KPC). On July 15, 2008, the two companies announced the location of their headquarters was to be in
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International
Chamber of Commerce International Court awards $ 2.16 bn to Dow in Kuwait arbitration
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225:"Dow and PIC of Kuwait Sign Binding Joint Venture Agreement to Launch K-Dow Petrochemicals"
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New Dow
Chemical venture to bring 800 jobs to southeastern Michigan
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Kuwait cancels $ 17 billion joint venture, Reuters Dec 28 2008
310:"Kuwait scraps$ 17.4 billion venture with Dow Chemical"
157:and Petrochemical Industries Company (PIC) of the
111:and Petrochemical Industries Company (PIC) of the
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340:Chemical companies of the United States
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145:specializing in the manufacturing of
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308:Diana Elias (December 28, 2008).
290:Christoff, Chris (July 15, 2008).
141:K-Dow Petrochemicals was to be a
248:Dow signs JV with PIC July 2008
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103:was a planned $ 17.4 billion
298:. Retrieved on July 2, 2010.
167:Kuwait Petroleum Corporation
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121:Kuwait Petroleum Corporation
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175:memorandum of understanding
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149:. It was an $ 11 billion
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143:multinational corporation
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155:The Dow Chemical Company
109:The Dow Chemical Company
345:Petrochemical companies
163:wholly owned subsidiary
117:wholly owned subsidiary
296:The Detroit Free Press
253:July 17, 2012, at the
101:K-Dow Petrochemicals
17:K-Dow Petrochemicals
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314:Detroit Free Press
171:Southeast Michigan
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319:December 28,
317:. Retrieved
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229:. Retrieved
201:Equipolymers
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193:Subsidiaries
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77:Polyethylene
45:Headquarters
22:Company type
334:Categories
231:2008-12-01
209:References
61:Key people
137:Formation
123:(KPC). A
251:Archived
204:MEGlobal
153:between
147:plastics
107:between
73:Products
49:Michigan
32:Industry
181:Breakup
132:History
91:, and
68:, CEO
321:2008
161:, a
115:, a
165:of
119:of
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