DIVESTITURES

12 Months Ended

Dec. 31, 2012

Divestitures [Abstract]

Divestitures [text block]

DIVESTITURES

Divestiture of Polypropylene Business

On July 27, 2011, Dow entered into a definitive agreement to sell Dow's global Polypropylene business to Braskem SA. The definitive agreement specified the assets included in the sale, which included the following assets of the Corporation: polypropylene manufacturing facility at Seadrift, Texas; railcars; inventory; business know-how; and certain product and process technology. The Corporation's Polypropylene Licensing and Catalyst business and related catalyst facilities were excluded from the scope of the transaction. On September 30, 2011 the sale was completed. The Corporation received $19 million for the sale of its assets, net of working capital adjustments and costs to sell, with proceeds subject to customary post-closing adjustments. The carrying amount of the assets divested on September 30, 2011 are noted below:

Assets Divested In millions	September 30, 2011
Inventories	$	2
Net property	12
Total assets divested	$	14

The Corporation recognized a pretax gain of $5 million on the sale in the third quarter of 2011. Post-closing adjustments of $1 million in the fourth quarter of 2011 reduced the pretax gain to $4 million, which is included in "Sundry income (expense) - net" in the consolidated statements of operations.