Dow Chemical shares surge on debt reduction

Dow Chemical Co. shares surged 7% by mid-morning trading Thursday after the company said it will cut its heavy debt load and achieve its financial targets ahead of schedule. Dow took on debt through its purchase of chemicals maker Rohm and Haas, a deal that closed in April. On Thursday, Dow said it would sell its powder coatings business to Holland's Akzo Nobel N.V. Dow Chemical was holding an analyst day Thursday, in which it trumpeted the early contributions of Rohm and Haas. Dow Chemical shares traded up to $28.63. The shares have surged 90% so far this year.

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- Posted: 2009-11-12 11:16:34

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