Dow completes separation from DowDuPont
- Becomes a more focused and streamlined materials science company
- Launches with global scale and leading positions in three attractive consumer-driven segments: packaging, infrastructure and consumer care
- Begins regular way trading on April 2 under the “DOW” ticker symbol
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.
About Dow in Vietnam
Dow has been present in Vietnam since 1995. The Company today gathers around 110 employees at 03 main locations, including 01 manufacturing site in Dong Nai Province, serving customers in the consumer care, infrastructure and packaging industries. Dow operates 21 manufacturing sites in 10 countries across Asia Pacific, and delivered pro forma net sales of $9.5 billion in 2018.
“Vietnam today that is known as a fast growing country is one of the key markets for Dow in the Southeast Asian region. As our longer term commitment, the new Dow continues to be a partner in Vietnam’s economic growth by adding more value to the country’s advanced manufacturing industries and a caring member of the Vietnamese community,” said Ekkasit Lakkananithiphan, General Director of Dow in Vietnam. “The new Company will provide more innovative and sustainable solutions to help Vietnam address the challenges."
More information about Dow and its investment thesis is available on its new Investors Relations website: investors.dow.com.
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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Nguyễn Hoài Sơn