Key Developments: Dow Chemical Co (DOW.N)

DOW.N on New York Stock Exchange

11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Dow Chemical Co To Build Specialty Plants On U.S. Gulf Coast-Reuters
Monday, 18 Mar 2013 10:48am EDT 

Reuters reported that Dow Chemical Co plans to build several plants on the U.S. Gulf Coast to take advantage of cheap shale-derived natural gas to produce plastics used in areas such as transportation and telecommunications.  Full Article

Dow Chemical Co Announces Closure Of Proceedings In K-Dow Arbitration
Monday, 4 Mar 2013 08:11am EST 

The International Court of Arbitration of the International Chamber of Commerce announced the final award amount, representing interest and costs, in the arbitration case between The Dow Chemical Company and Petrochemical Industries Company of Kuwait (PIC) related to the K-Dow transaction. The final interest and costs awarded to Dow totals $318 million, as of March 4, 2013, and is in addition to the partial award of $2.16 billion announced last May - resulting in full damages awarded to Dow equal to $2.48 billion. This is the last step in the disciplined arbitration process, bringing the process to a close. Both awards (partial and final) are binding and non-appealable. The total award amount is subject to continuing interest until Dow receives payment. Counsel for Dow is Shearman & Sterling.  Full Article

Jury Orders Dow Chemical Co To Pay $400 Million In Price-Fixing Case-Reuters
Wednesday, 20 Feb 2013 10:20am EST 

Reuters reported that a federal jury has ordered Dow Chemical Co to pay $400 million in a price-fixing case involving chemicals used to make foam products in cars, furniture and packaging, according to court documents. Dow was one of several chemical company defendants named in a class action lawsuit alleging a conspiracy to fix urethane chemical prices, but it was the only defendant not to settle. Last month, it went to trial in a federal court in Kansas City. The plaintiffs, purchasers of urethane chemicals, had sought more than $1 billion in damages from Dow. If the $400 million verdict is approved by the judge overseeing the case, it could be tripled under federal antitrust law. David Bernick, an attorney for Dow, said that the Company would seek to dismiss the lawsuit in a post-trial motion. Separately, Dow said in a statement late on February 20, 2013, that it was disappointed the jury found price fixing conduct during part of the time frame at issue, and that it continues to deny those allegations. The plaintiffs had sought damages for a five-year conspiracy, but the jury did not find Dow liable for the full five years, he said.  Full Article

Dow Chemical Co Announces Share Repurchase Program
Friday, 15 Feb 2013 08:36am EST 

Dow Chemical Co announced that Board of Directors has approved a share buy-back program, authorizing the repurchase of up to $1.5 billion of the Company's common stock. Purchases under this program may be made over time in open market or privately negotiated transactions.  Full Article

Dow Chemical Co Declares Quarterly Dividend Of 32 Cents Per Share
Friday, 15 Feb 2013 08:30am EST 

Dow Chemical Co announced that it has declared a dividend of 32 cents per share, payable April 30, 2013, to shareholders of record on March 28, 2013.  Full Article

Cambrex Corp And Dow Chemical Co Collaborate To Manufacture Drug-Solubility Solution
Thursday, 14 Feb 2013 09:30am EST 

Cambrex Corp and Dow Chemical Co announced that they have executed an agreement for Cambrex to contract manufacture Dow Hydroxypropyl Methylcellulose Acetate Succinate (HPMCAS) for Drug Solubility Enhancement. This is the final step in building on the solubilization partnership that Dow and Bend Research announced in October 2012 and it will help Dow to commercially supply solubility enabling excipients. Construction has already begun on the new operational facility at Cambrex Karlskoga with commercial product availability set for year-end 2013. Dow's polymer science and application expertise, coupled with Cambrex's capabilities positions Dow for rapid entry into the market.  Full Article

PMC Group Acquires Dow Chemical Co's Polymer Stabilizer And Lubricant Business
Friday, 1 Feb 2013 05:00am EST 

Dow Chemical Co announced that PMC Group N.A., Inc. has completed the acquisition of the global methyl tin stabilizers and solid lubricants business of The Dow Chemical Company (Dow). The Business includes global organotin and heavy-metal free organic polymer stabilizers, polymer lubricants and multi-component package product lines sold under brand names including ADVASTAB, ADVALUBE, ADVAWAX and ADVAPAK. The transaction includes a manufacturing facility dedicated to these products in Cincinnati, Ohio. Terms of the transaction were not disclosed.  Full Article

Nanoco Group PLC And Dow Chemical Company's Dow Electronic Materials Signs Global Licensing Agreement For Cadmium Free Quantum Dots
Wednesday, 23 Jan 2013 02:05am EST 

Nanoco Group PLC and Dow Electronic Materials, a business unit of The Dow Chemical Company announced they have entered into a global licensing agreement for Nanoco`s cadmium-free quantum dot technology. Under the terms of the agreement, Dow Electronic Materials will have exclusive worldwide rights for the sale, marketing and manufacture of Nanoco`s cadmium-free quantum dots for use in electronic displays. The agreement brings together Nanoco`s technology with Dow`s manufacturing capability and well-established sales, marketing and distribution network. Dow Electronic Materials is already a supplier of critical electronic materials to the global display industry. The financial details of the agreement are not being disclosed though Nanoco will receive royalty payments related to Dow`s sales of cadmium-free quantum dots. Nanoco will continue to provide any technology advances to its cadmium-free quantum dot technology throughout the lifetime of the agreement and participate with Dow in the marketing and technical support of these materials. Dow intends to build production capacity in Asia where it has extensive manufacturing capabilities to supply high-performance materials to its customers in the display and semiconductor-related segments. Full commercial production is expected to begin in the first half of 2014.  Full Article

Dow Chemical Co Amends Quarterly Dividend Record and Payment Dates
Thursday, 13 Dec 2012 03:45pm EST 

Dow Chemical Co announced that Board of Directors has approved an amendment to the record and payment dates of the Company`s regular quarterly dividend announced earlier . The quarterly dividend of 32 cents per share is payable on December 31, 2012 to shareholders of record at the close of business on December 24, 2012. The dividend was previously scheduled to be paid on January 30, 2013 to shareholders of record at the close of business on December 31, 2012.  Full Article

Dow Chemical Co Declares Quarterly Dividend Of 32 Cents Per Share
Thursday, 13 Dec 2012 08:15am EST 

Dow Chemical Co announced it has declared a dividend of 32 cents per share, payable January 30, 2013, to shareholders of record on December 31, 2012.  Full Article

UPDATE 2-DuPont cuts profit forecast on slow sales in farm business

June 26 - Chemicals maker DuPont cut its operating profit forecast for the second quarter and the full year, saying sales in its agriculture and performance chemicals units increased at a slower pace than it had expected.

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