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Stavropoulos plans cost-saving cuts at Dow.
(From Chemical Business NewsBase - Plastics News)
William Stavropoulos is wasting no time in his second spell as CEO at Dow Chemical Co. Less than a week after taking the place of Michael Parker, he announced plans that could mean plant closures and job cuts in efforts to save over $1 bn in cash flow in 2003. No details were available about the effect on individual business units or plants. Dow's sales for Jan-Sep 2002 were down over 4% at $20.5 bn and pretax profits were flat at around $1.2 bn. Plastics-related businesses accounted for about half of Dow's total sales in the period. Stavropoulos' plans call for a ...
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