Dow Chemical to exit petrochem biz in India

Dow Chemical Co., the world’s second largest chemical manufacturer, is going through a restructuring, closing plants and laying off employees across 175 countries. In India, too, Dow Chemical International Pvt. Ramesh Ramachandran, who took over as president and chief executive of the company’s India operations last year, wants to exit the petrochemical business in the country to focus on specialty chemicals. But unlike its global parent, the company is not planning layoffs in India. Ramachandran, in fact, wants to more than double the company’s headcount to about 2,000 next year from 960 now, to focus on innovation, and design and develop technology for the specialty chemical business in India at its three centers. (December 24, 2008)