Dow Chemical backs out of Dow Kokam ownership - WNEM TV 5

Dow Chemical backs out of Dow Kokam ownership

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MIDLAND, MI (WNEM) -

The Dow Chemical Company has backed out of its ownership of Dow Kokam by selling its interest in the advanced battery manufacturing company.

Dow Chemical says its decision to sell its share of Dow Kokam fits with the ongoing overhaul of the corporation's mix of businesses.

Dow Chemical said that it will continue to manufacture the materials that go into batteries but not the batteries themselves.

Dow Kokam laid off about 60 workers from the Midland Battery Park and a facility in Missouri earlier this year because of weak demand for advanced lithium-ion batteries.

In 2010 at Dow Kokam's groundbreaking, Vice President Joe Biden called the company "The beginning of a revolution in the production of energy in this country."

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