Dow Will Sell DowBrands Unit to Johnson

Dow Chemical Co. said it will sell its DowBrands consumer products unit to closely held S.C. Johnson & Son Inc., maker of Johnson Wax and Pledge, as part of its strategy to focus on chemicals and plastics. Terms weren’t disclosed. The DowBrands unit could have a price tag of $1 billion or more, analysts said. The unit had 1996 revenue of $800 million, Dow Chemical said. The sale would end months of uncertainty about what the Midland, Mich.-based chemicals maker would do with the unit. Dow wants to be No. 1 or No. 2 in its businesses, analysts said, and since 1994 has been shedding assets that don’t meet that standard. Dow Chemical shares rose $3.75 to close at $90 on the NYSE.