Dow Chemical to sell most chlorine assets in US$5b deal

Midland, Michigan

DOW Chemical Co will separate a portion of its century-old chlorine business and sell it to Olin Corp in a tax-efficient deal worth US$5 billion as part of efforts to shed low-margin assets.

The deal will make smaller rival Olin the world's largest producer of chlor-alkali, which is used to make chlorine and caustic soda. These chemicals are used in a variety of industries such as healthcare, textiles and automotive.