Dow Chemical to exit petchem business in India

Dow Chemical Co., the world’s second largest chemical manufacturer, is going through organizational restructuring, closing plants and laying off employees across 175 countries. In India, Ramesh Ramachandran, who took over as president and chief executive of the company’s India operations, Dow Chemical International Pvt., in 2007, wants to exit the petrochemical business and 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 in 2009, from a headcount of only 960 at the end of 2008, to focus on innovation and design and develop technology for the specialty chemical business at its three centers in India. (December 24, 2008)