Dow Chemical to look for deals next year - report

PARIS, Sept 22 (Reuters) - Dow Chemical could start looking for acquisitions in Asia and Latin America next year aftera focus on cutting debt this year, its vice-president told La Tribune in an interview.

"We have reduced our debt by $4 billion in the first half of the year," said Jerome Peribere in the Thursday edition of the French paper. "But we have several billion to put towards acquisitions."

The U.S. company has been selling assets for the past two years, focusing on joint ventures and more-profitable chemical products to cut risk and cost.

The largest U.S.-based chemical maker posted net income of $982 million last quarter, or 84 cents per share, compared with $566 million, or 50 cents per share, a year earlier.

Asked if he was concerned about the impact of the financial crisis on Dow's business, Peribere said the company had already taken the uncertainty into account when issuing guidance for the year. "We are reasonably optimistic for the third and fourth quarter of 2011," he said.

Dow Chemical shares closed down 6 percent to 25.54 per share on Wednesday amid a broader market slowdown that saw the S&P close down almost 3 percent.