Brussels, 30/06/2004 (Agence Europe) - On Tuesday, the Commission authorised two joint ventures, White Sands and Planet, by Dow Chemicals Company, based in the United States, and Kuwait Petroleum Corp's Petrochemical Industries Company K.S.C. (PIC). White Sands and Planet will be jointly held by both parties, and active in the processing, marketing and sales of ethylene glycols and polyethylene terephthalate (PET). PET is used in the production of packaging for various cosmetic or food products, and ethylene glycols is a raw material used, for example, in the production of PET products. Upon evaluation, the European executive is of the opinion that the horizontal overlaps are minimal in the case of White Sands, and non-existent in Planet. The Commission feels that Dow Chemical and PIC will not be able to use their other companies to bolster White Sands' and Planet's position on their respective markets, especially as these markets are relatively fragmented with strong competitors.