Dow Chemical has placed all its plastics units into one division, Performance Plastics, that will be headed by Howard Ungerleider. Ungerleider, who had acted as VP of investor relations, has now been promoted to a senior VP for Dow, and named president for the newly formed division.
Dow's Performance Plastics division will include its Solution Polyethylene, Wire & Cable, Elastomers, and Films and Packaging Resins units, as well as its Packaging and Converting Unit, which had been part of the Advanced Materials Division.
Dow said the move reflects its "portfolio management" efforts of the last two years, which have shifted emphasis away from commodity plastics products. As part of this, the company cited its earlier divestment of its Styron styrenics unit....