RTTNews | Sep 30, 2020 06:21AM EDT

06:21 Wednesday, September 30, 2020 (RTTNews.com) - Dow Inc. (DOW) announced a series of actions the company will take to achieve previously announced structural cost improvement targets. Industrial Intermediates & Infrastructure will rationalize its asset footprint by shutting down certain amines and solvents facilities in the United States and Europe as well as select small-scale downstream polyurethanes manufacturing facilities. Performance Materials & Coatings will shut down manufacturing assets, primarily small-scale coatings reactors, and will also rationalize its upstream asset footprint in Europe and in the United States and Canada.

Dow will record a charge in the third quarter for costs associated with the restructuring activities. These costs are estimated to be in the range of $500 million to $600 million.

The company also confirmed that on September 30, it will close the sale of rail infrastructure assets at six North American sites to Watco, three months ahead of its initial planned closing.

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