The Dow Chemical Company and ExxonMobil Company have jointly announced the signing of a definitive agreement to restructure the ownership of Univation Technologies, LLC, currently a 50/50 joint venture. This transaction will result in Univation Technologies becoming a wholly owned subsidiary of Dow, aligned to its Performance Plastics operating segment.
Univation Technologies is the licensor of UNIPOL™ Process Technology and a leader in the development, manufacture and sales of PE catalysts for the UNIPOL PE Process. Univation Technologies will continue to license its UNIPOL PE Process Technology, including swing capability for linear low density polyethylene and high density polyethylene. Additionally, Univation Technologies will continue to develop and supply all catalysts, including: UCAT™ Conventional, ACCLAIM™ Advanced Unimodal, XCAT™ Metallocene and PRODIGY™ Bimodal Catalysts.
The transaction is expected to close by the end of 2014, pending regulatory approval.
Cindy Shulman, president of Univation Technologies, commented: “Univation is a global leader serving a growing, high margin market. Univation remains committed to reliably serving our customers and licensees with the world’s leading gas phase polyethylene process technology and associated catalysts and looks forward to being aligned with Dow’s Performance Plastics franchise”.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/02102014/univations-technologies-now-dow-subsidiary-1338/