— Become a more focused and efficient material science company
–New Dow is a global company with leading positions in three consumer-driven areas of concern: packaging, infrastructure, and consumer care
–Regular trading begins April 2, 2019 (EST) under the ticker symbol “DOW”
Shanghai, China—April 2, 2019—Dow Corporation completed its spin-off from DowDuPont on April 1 (US Eastern Time), becoming a more focused, efficient, and industry-leading materials science company. New Dow is a global company with leading positions in three focused consumer-driven market segments: Packaging, Infrastructure, and Consumer Care. Dow has a stronger ability to drive revenue growth and innovate for customers, and will drive the progress of the chemical industry by virtue of its advantages in ethylene, propylene and silicone.
The distribution of Dow common stock was completed after the market closed on April 1, 2019 (Eastern Time), for each DowDuPont registered shareholder who held three (3) shares at the close of the market on March 21, 2019 DowDuPont common stock, for one (1) share of Dow common stock. For the remainder of the stock, DowDuPont shareholders will receive cash. Dow common stock will begin trading on the New York Stock Exchange on April 2, 2019 (EST), under the traditional ticker symbol “DOW,” and will join the Dow Jones Industrial Average.
Mr. Jim Fitterling, CEO of Dow, said: “Today, Dow has opened an exciting new chapter. We have made major adjustments to Dow’s business portfolio, cost structure, and way of thinking. New Dow Dow is a more focused and efficient company that creates long-term revenue growth and value for all stakeholders based on a clear strategic agenda.Dow’s team has a strong ability to achieve the company’s ambitious goal of becoming a leader in innovation, The leading materials science company in terms of customer orientation, inclusiveness and sustainable development. We have established a complete support system to improve our speed of innovation, operational efficiency and more prudent investment to achieve value creation growth, higher returns and higher shareholder value.”
Mr. Howard Ungerleider, Dow President and Chief Financial Officer, said: “Today, our customers, communities, investors and the Dow team are celebrating this important milestone. With a focused business portfolio, cost-effective structure, disciplined capital allocation, shareholder-friendly capital return structure, the new Dow has the best capabilities and team to drive superior operational and financial performance.”
Mr. Lin Yulin, President of Dow Greater China, said: “Greater China is Dow’s largest overseas market in the world. We have established a complete network based on business organizations, world-class manufacturing bases and innovation bases. Dow The company’s strong capabilities in China will allow us to work seamlessly with our clients to deliver sustainable solutions that will help transform China’s packaging, infrastructure, and consumer care industries.”
The new company will carry the brand name Dow, reflecting the company’s evolution as a materials science solutions provider while continuing its long tradition. Dow will adopt a new brand tagline, “Seek Together,” a call to action that emphasizes the value of collaboration in delivering innovative solutions for customers and the value chain, and represents Dow’s progress toward achieving its goals. , looking for ways to collaborate with all stakeholders. The company logo that has been used for more than 120 years-Dow’s diamond logo remains unchanged and will continue to be the core element of Dow’s brand.