USA: Material Science Dow Separates with Dow Dupont
Post partying ways, Dow has gone on to become a more focused and streamlined materials science company. The firm has also been launched with three core consumer-driven segments namely packaging, infrastructure and consumer care.
Michigan/USA – Dow has successfully completed its separation from Dow Dupont, thus becoming a more focused, streamlined, and leading materials science company. Dow launches with global scale and leading positions in three attractive consumer-driven segments: packaging, infrastructure and consumer care. The company is now even better positioned to drive revenue growth and innovate for its customers, leveraging three advantaged building blocks – ethylene, propylene and silicones – to power one of the deepest chemistry sets in the industry.
The distribution of Dow common stock was completed after market close, with each Dow Dupont stockholder of record receiving one (1) share of Dow common stock for every three (3) shares of Dow Dupont common stock held as of the close of business on March 21, 2019. Dow Dupont stockholders will also receive cash in lieu of any fractional Dow shares. Dow common stock will begin trading on the New York Stock Exchange (NYSE) under its historical symbol ‘Dow’ on April 2, 2019, and will join the Dow Jones Industrial Average (DJIA) index.
“Today marks the beginning of a new and exciting chapter for Dow,” said Jim Fitterling, chief executive officer. “The changes we have made to Dow’s portfolio, cost structure and mindset are significant. The new Dow is a more focused and streamlined company with a clear playbook to deliver long-term earnings growth and value creation for all stakeholders. Team Dow is well positioned to achieve our ambition of becoming the most innovative, customer-centric, inclusive and sustainable materials science company. We have all the tools in place to innovate more quickly, to operate more productively, and to invest more prudently to deliver value creating growth, higher returns and enhanced shareholder value.”
“Today we celebrate this milestone with our customers, communities, investors, and Team Dow,” said Howard Ungerleider, president and chief financial officer. “With our focused portfolio, streamlined cost structure, disciplined approach to capital allocation, and shareholder friendly capital return framework, the new Dow has the right capabilities and team to drive best-in-class operating and financial performance.”
The new Company will be referred to by the brand name ‘Dow,’ acknowledging the remarkable legacy while also reflecting the company-wide evolution to a materials science solutions provider. Dow is adopting a new brandline – ‘Seek Together’ – which is a call to action that highlights the value of collaboration to deliver innovation and solutions to our customers and value chains. It represents the way the firm seeks to collaborate with all of its stakeholders as it delivers on its ambition. The iconic Dow Diamond, which has stood as the Company’s logo for more than 120 years, is unchanged and will continue to be a core element of the Dow brand.