Dow Completes Separation from DowDuPont
2nd April 2019
Dow completed its separation from DowDuPont, becoming a global materials science company active in the segments packaging, infrastructure and consumer care. After the spin-off, Dow said it will be even better positioned to increase sales and develop innovations for its customers. Ethylene, propylene and silicones will form the basis of its value chains.
The distribution of Dow common stock was completed after market close on Apr. 1, 2019, with each DowDuPont stockholder of record receiving 1 share of Dow common stock for every 3 shares of DowDuPont common stock held as of the close of business on Mar. 21, 2019. DowDuPont stockholders will also receive cash in lieu of any fractional Dow shares. Dow common stock began trading on the New York Stock Exchange (NYSE) under its historical symbol “DOW” on Apr. 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, the company’s CEO. “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.”
The new company will operate exclusively under the brand name "Dow", acknowledging the firm’s tradition while also reflecting the development into a provider of materials science solutions. The new corporate slogan "Seek together" was chosen to underline the great importance Dow attaches to working with customers in the value chains. The Dow “diamond”, which has served as the company’s logo for more than 120 years, will be unchanged and continue to be a core element of the Dow brand, the company said.
Photo: © Dow
Dow completed its separation from DowDuPont, becoming a global materials science company.
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