Dow Chemical's Andrew Liveris Explains Exiting Commodity Chemicals

CEO, President and Chairman of Dow Chemical DOW Andrew Liveris appeared on CNBC's Squawk Box Monday morning to discuss the company's decision to optimize their properties by separating and selling and/or spinning off their commodity chemicals. The plan will lead to $5 billion in annual revenue and includes chlorine production plants and epoxy amongst others in a decision that will affect up to 40 factories and 2,000 workers. Liveris noted their steady withdrawal from the commodities business and a transition into growth areas over the years, citing the production of chemicals used in commuter chips and meat packaging plastics as prime examples of that category. Related: Earnings Expectations For The Week Of December 2 “We're the number one player in the world at putting chlorine and related assets up for sale, or you know, put it in a business model, with somebody [that] will benefit from it,” said Liveris. “I think the timing is perfect for us and for the buyer.” In total, the plan will take a total of 12 to 24 months to execute, said Liveris. Jason Cunningham had no position with the mentioned entities while writing this article. Visit Jason on Twitter at @JasonCunningham and @Benzinga.