06 October 1999 19:11 [Source: ICIS news]
HOUSTON (CNI)--Dow Chemical announced Wednesday it has created Dow Automotive as its first industry-focused business unit, or "company within a company."
The new Dow Automotive will integrate Dow's Essex Specialty Products subsidiary and joint venture partnerships and resources to offer "an even broader product portfolio" including adhesives, sealants and coatings. Dow Automotive and Essex facilities worldwide will take part in the transition process.
Essex Specialty Products is the world's leading producer of adhesives and sealants for the automotive industry. It is based in Auburn Hills, Michigan.
Lawrence Denton has been named president of the new organisation. Denton joined Dow Automotive in 1996 as global vice president, following a 24-year stint with Ford Motor Company, where he held a number of engineering and managerial positions.
Bill Stavropoulos, Dow's chief executive, said of the announcement: "As the Dow Chemical Company takes another major step in its transformation to become a more solutions-oriented science and technology company, it has named Dow Automotive as its first 'company within a company,' to operate with higher aspirations and breadth of service than ever before."
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