Dow Chemical (NYSE:DOW) is to unload nearly $1.5 billion worth of assets over the next year and a half. The company said it is "targeting an increased divestiture list" in an ongoing and comprehensive set of portfolio reviews. It has already marked two of its businesses for sale -- the polypropylene licensing and catalysts, and plastics additives units.

The announcement comes after the company pledged an "ongoing commitment to aggressive portfolio management," most recently detailed at an investor forum it held last December. It aims to boost its presence in high-margin businesses that are growing robustly.

Dow Chemical pointed out that, since 2009, it has divested itself of non-core units representing around $8 billion in revenue.