Tuesday, August 28, 2012
Kuwaiti Firm to Pay Compensation to Dow Chemical
Kuwait’s Petrochemical Industries Co. agreed to make a first, partial compensation payment of $921 million to Dow Chemical Co. The payment is the result of an arbitration panel ruling that Kuwait must pay $2.16 billion in damages because the Gulf state canceled a 2008 agreement to buy a stake in the company’s plastics business.
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