REG-Dow Chemical Co Dow Accelerates Portfolio Management Actions to Divest Non-Core Businesses; Targets More Than $1 Billion in Proceeds
* Reuters is not responsible for the content in this press release.
http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130314:nBw145550a MIDLAND, Mich.--(Business Wire)-- The Dow Chemical Company (NYSE: DOW) today announced additional actions to accelerate the Company`s ongoing commitment to aggressive portfolio management, as outlined at its Investor Forum in December 2012. As a result of thorough, ongoing portfolio reviews in a slow-growth world, Dow is targeting an increased divestiture list of nearly $1.5 billion over the next 18 months. Further, the Company has identified two units that will be actively marketed for divestment: Dow`s Polypropylene Licensing and Catalysts business unit and its Plastics Additives business unit. "Today`s announcement is yet another proof point of Dow`s rigorous focus on return on capital, and is squarely in line with commitments we made earlier this year," said Andrew N. Liveris, Dow`s chairman and chief executive officer. "We are reviewing our entire portfolio and seeking even further opportunities to optimize value: selectively pruning assets that are no longer a strategic or financial fit - all in an effort to accelerate value creation and deliver long-term, sustainable growth for the Company." These actions are the latest in a series of steps the Company has taken to further enhance Dow`s leadership position in high-margin, fast-growing end-markets, while simultaneously optimizing the value of assets. Since 2009, Dow has divested non-core businesses representing approximately $8 billion in revenue. In January, the Company divested the stabilizers component of its Plastics Additives business, and entered into a definitive agreement to sell its 50 percent ownership in Nippon Unicar Company Limited (a Japanese joint venture in the Dow Electrical and Telecommunications business). About Dow Polypropylene Licensing and Catalysts Dow Polypropylene Licensing and Catalysts offers industry-leading technology for producing polypropylene, including UNIPOL PP Process Technology, CONSISTA D7000 Donor and SHAC Catalyst with Advanced Donor Technology (ADT). About Dow Plastics Additives Dow Plastics Additives is a worldwide supplier of additives used in a large variety of applications ranging from construction materials and packaging containers to consumer appliances and electronics, business machines and automotive parts. About Dow Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2012, Dow had annual sales of approximately $57 billion and employed approximately 54,000 people worldwide. The Company's more than 5,000 products are manufactured at 188 sites in 36 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com. Note: The forward-looking statements contained in this document involve risks and uncertainties that may affect the Company`s operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the Company`s expectations will be realized. The Company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws. ®TM Trademark of The Dow Chemical Company ("Dow") or an affiliated company of Dow The Dow Chemical Company For editorial information: Rebecca Bentley +1 (989) 638-8568 firstname.lastname@example.org or Nancy Lamb +1 (989) 638-7251 email@example.com Dow Chemical Co Copyright Business Wire 2013
- Housing, jobs data weaken, but overall economic picture still upbeat
- Target cyber breach hits 40 million payment cards at holiday peak |
- 'Duck Dynasty' anti-gay fallout sparks debate on religion, tolerance
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Zuckerberg to sell Facebook shares worth about $2.3 billion |