Dow completes separation from DowDuPont

Event Calendar Press Releases Tuesday April 9, 2019 08:52
Bangkok--9 Apr--Dow Thailand Group

Dow successfully completed its separation from DowDuPont, 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. Dow 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 today, with each DowDuPont stockholder of record receiving one (1) share of Dow common stock for every three (3) shares of DowDuPont common stock held as of the close of business on March 21, 2019. DowDuPont 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 Dow 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.

Dow has been present in Thailand since 1967. The Company today gathers around 1,000 employees at three manufacturing sites in the Map Ta Phut Industrial Estate, the WHA Eastern Industrial Estate (Map Ta Phut) and the Asia Industrial Estate in Rayong province serving customers in the packaging, construction & infrastructure and consumer care markets for Thailand and Asia Pacific. Dow operates 21 manufacturing sites in 10 countries across Asia Pacific, and delivered pro forma net sales of $9.5 billion in 2018.

"Over the past 52 years, we have made tremendous strides towards the growth of Dow and Thailand's economy by expanding our investment and contribution to the whole industry and communities by helping them grow and succeed in a sustainable way", said Chatchai Luanpolcharoenchai, president of Dow Thailand Group. "Now we are moving to the "new Dow" – new journey and next chapter of mutual growth, we greatly value ongoing partnership and support from valued stakeholders and look forward to collaborating with customers, local government in Thailand, communities and talented employees to seize new opportunities in years to come."

More information about Dow and its investment thesis is available on its new Investors Relations website: investors.dow.com.
About Dow

Dow (NYSE: DOW) combines one of the broadest technology sets in the industry with asset integration, focused innovation and global scale to achieve profitable growth and become the most innovative, customer centric, inclusive and sustainable materials science company. Dow's portfolio of performance materials, industrial intermediates and plastics businesses delivers a broad range of differentiated science-based products and solutions for our customers in high-growth segments, such as packaging, infrastructure and consumer care. Dow operates 113 manufacturing sites in 31 countries and employs approximately 37,000 people. Dow delivered pro forma sales of approximately $50 billion in 2018. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.


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