InterviewDow to expand Rohm and Haas savings

02 December 2008 16:36  [Source: ICIS news]

By Joseph Chang

NEW YORK (ICIS news)--US chemical major Dow Chemical will announce a major expansion of its cost savings plans for US specialty producer Rohm and Haas in the next few weeks, Dow chairman and CEO Andrew Liveris said on Tuesday.

“Our original cost savings targets will not only hold, but we’ll have a lot more to say on that in the coming weeks,” Liveris said.

“We’re in the middle of finalising the numbers.”

When Dow announced its acquisition of Rohm and Haas for $18.8bn (€14.9bn) in July, the company originally planned to achieve $800m in annual cost savings from the integration - 40% in the first year and 60% in the second.

In its late October third-quarter results conference call, Dow announced it expected to get a $100m run rate on cost savings by day one of the acquisition.

“We already have a head start on our target of 40% in year one, and we’ll have a lot more to say about that in a couple of weeks,” said Liveris.

($1 = €0.79)

For more on Dow Chemical and Rohm and Haas visit ICIS company intelligence
To discuss issues facing the chemical industry go to
 ICIS connect

By: Joseph Chang
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index