Dow Chemical Co Dow Accelerates Portfolio Management Actions to Divest Non-Core Businesses; Targets More Than $1 Billion in P...
14 3월 2013 - 10:00PM
UK Regulatory
TIDMDOW
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
UNIPOLtm PP Process Technology, CONSISTAtm D7000 Donor and SHACtm
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 CompanyFor editorial information:Rebecca
Bentley+1 (989) 638-8568rmbentley@dow.comorNancy Lamb+1 (989)
638-7251nelamb@dow.com
This information is provided by Business Wire
Dow Chem. (LSE:DOW)
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