Dow Chemical CEO Andrew Liveris wins ICIS Kavaler award
Will Beacham
28-Oct-2015
NEW YORK (ICIS)–Dow Chemical chairman and CEO Andrew
Liveris has been presented with the ICIS Kavaler award,
sponsored by The Chemists’ Club and in association with The
Valence Group, in recognition for outstanding and newsworthy
achievement.
The distinguishing feature of this award
is that the winner is selected by his/her peers in the ICIS
Top 40 Power Players listing, a global ranking of the leaders
making the greatest impact in the chemical industry.
The award was presented by ICIS and The
Chemists’ Club at a black-tie dinner ceremony with around 300
attendees on Tuesday this week at the New York Public
Library, Stephen A Schwarzman Building.
“I am proud to accept this honour on
behalf of all Dow people who work every day to create
lasting value for our owners, our customers and all of our
stakeholders,” said Liveris at the New York Dinner.
“Under Mr. Liveris’ leadership, Dow is
making major capital investments in cost-advantaged countries
in the US and Saudi Arabia, while divesting non-core assets.
Dow’s merger of its chlorine and derivatives business – in a
tax advantaged structure with Olin – was a landmark deal for
Dow, bringing in $5bn in post-tax value, and cutting exposure
to certain commodities,” said Joseph Chang, global editor of
ICIS Chemical Business.
Dow’s Sadara joint venture with Aramco in
Saudi Arabia is the largest integrated chemical project in
history, and will start up in stages later in 2015 and
through 2016.
On the US Gulf Coast, Dow is in the process of starting
up its propane dehydrogenation (PDH) plant, and plans to
complete its world-scale cracker and derivatives project by
2017.
Additional moves involving Dow’s joint
ventures and its AgroSciences business are under way to
further unlock value and streamline Dow’s portfolio, said
Chang.
In the award selection process, ICIS and
The Chemists’ Club invited each of the ICIS Top 40 Power
Players for 2014 to vote for three individuals in a ballot,
based on newsworthy achievements in one or more of the
following categories: profitability/shareholder value,
mergers and acquisitions (deals or integration),
projects/capital investment and innovation – technology,
product, business process with an impact on industry and
society.
The award also honours Arthur Kavaler, who
served for 46 years as reporter, editor and eventually
publisher of Chemical Market Reporter – one of the three
publications incorporated into ICIS Chemical Business.
Kavaler, a probing editor with unwavering conviction, passed
away at the age of 91 on January 18, 2012.
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