Dow is a global science and technology based company that develops and manufactures a portfolio of chemicals, plastics and agricultural products and services. With annual sales of $57.5bn (2008), Dow serves customers in more than 175 countries, supplies more than 3,500 products, has approximately 46,000 employees and 180 manufacturing sites in 37 countries.
Dow Chemical completes its $78/share takeover of Rohm and Haas
In May 2009, Dow Chemical created a new coatings segment with its Rohm and Haas acquisition. The Dow Coating Materials (DCM) segment includes Dow Coating Solutions and Rohm and Haas Paint and Coating Materials. For more on this please see the following ICIS news story: US Dow creates coatings subsidiary with Rohm and Haas deal on ICIS news.
In April 2009, Dow Chemical completed its $78/share takeover of Rohm and Haas. The acquired business will be called ‘Advanced Materials Division’ and will be headed by Pierre Brondeau.
In addition, Dow will sell the following businesses to comply with US antimonopoly regulators:
(1) An acrylic monomer plant in Clear Lake, Texas;
(2) Acrylic polymer operations in St Charles, Louisiana;
(3) An acrylic polymer plant in Alsip, Illinois;
(4) An acrylic polymer plant in Torrance, California;
(5) An acrylic monomer research-and-development group in South Charleston, West Virginia; and
(6) An acrylic latex polymer research-and-development group in Cary, North Carolina.
In March 2009, Dow Chemical said it would buy Rohm and Haas for $78/share (€61.62/share) as part of a settlement reached by both the mentioned companies. Dow had a 1 April 2009 deadline to close the deal.
On 26 January 2009, Rohm and Haas said in a statement that Dow Chemical did not intend to close its proposed $18.8bn (€14.5bn) acquisition of Rohm and Haas before the Tuesday 27 January deadline.
Also in January 2009, the US Federal Trade Commission (FTC) approved Dow Chemical's merger with Rohm and Haas. Under an agreement reached with the FTC, Dow said it would sell several assets, including its acrylic monomer, hollow sphere particle and acrylic latex polymer businesses.
In October 2008, shareholders of Rohm and Haas voted in favour of its merger with Dow Chemical.
Dow announced the merger on 10 July 2008.
Company movements
Please see Dow AgroSciences to buy seeds assets in Canada on ICIS news.
In November 2009, AkzoNobel signed an agreement to buy Dow’s powder coatings activities. For more on this please see AkzoNobel to buy Dow's powder coatings activities on ICIS news.
Please see Dow completes $660m Optimal divestiture to Petronas on ICIS news.
In September 2009, Dow Chemical formed a new business unit called Dow Construction Chemicals (DCC). The business unit will be part of Dow Advanced Materials business. For more on this please see US Dow launches construction chemicals unit on ICIS news.
Also in September 2009, Dow Chemical agreed to sell its hollow sphere plastic pigment product line to OMNOVA Solutions. Please see Dow Chemical to sell pigment line to OMNOVA Solutions .
In August 2009, Dow Chemical said it has created a new division called Dow Coating Materials. For more on this story please see US Dow creates new coating materials division .
Also in August 2009, Dow will enter a joint venture with Townsend Kokam to produce lithium polymer batteries for hybrid and electric vehicles. For more on this story please see US Dow launches auto battery JV with $161m grant.
In August 2009, Arkema said it will buy Dow Chemical’s acrylate and latex assets. For more on this story please see Arkema buys Dow’s acrylate and UCAR businesses for $50m .
In July 2009, Dow Chemical said that it plans to spin off its styrenics and aromatics businesses into a new company called Styron.
Styron will include:
Styrene-butadiene rubber (SBR)
SB latex
Polycarbonate compounds and blends
Acrylonitrile-butadiene-styrene (ABS) / styrene acrylonitrile (SAN) resins
Expandable polystyrene (EPS) and polystyrene
Styrene monomer.
It will be led by:
Chief executive officer (Styron): Mark Remmert
Chief financial officer (Styron): Celso Goncalves
For more on this please see US Dow prepares styrenics, aromatics units for sale on ICIS news.
Also in July 2009, Dow announced its intention to sell its interests in Optimal to Petronas. For more on this story please see Petronas, Dow marketing scheme for Optimal stays for now and Petronas, Dow marketing scheme for Optimal stays for now.
In addition, it also announced that it has closed the calcium chloride transaction previously announced in March 2009.
Please see Dow gets clearance to sell Morton to K+S, can now pay loan on ICIS news. In April 2009, K+S agreed to acquire Morton Salt from Dow Chemical for $1.675bn (€1.27bn).
In December 2008, Dow Chemical’s proposed $17.4bn (€13.7bn) joint venture with Petrochemicals Industries Company (PIC), K-Dow Petrochemicals lapsed due to the Kuwait Supreme Petroleum Council’s (SPC) decision to reverse a prior approval of the agreement.
Dow Chemical had previously signed a pivotal agreement with PIC on 1 December 2008 to create the K-Dow petrochemicals joint venture.
Performance Plastics
Dow Automotive - a supplier of materials, parts, modules and systems for automotive interior, exterior, chassis/powertrain and body engineered systems applications. It also offers R&D, design expertise, advanced engineering and supply chain management support.
Dow Building Solutions - manufactures and markets insulation, weather barrier, and oriented composite building solutions, as well as a line of cushion packaging foam solutions. The business also manufactures foam solutions for a wide range of applications including cushion packaging, electronics protection and material handling.
Dow Epoxy - manufactures a variety of basic epoxy products, as well as intermediates used by other major epoxy producers. Dow supports its products with high-quality raw materials, technical service and production capabilities.
Polyurethanes and Polyurethanes Systems - these businesses are global producers of polyurethane raw materials and systems. They emphasise new business developments while facilitating customer success with a global market and technology network.
Specialty Plastics and Elastomers - offers a range of engineering polymers and compounds. It also has technical and commercial capabilities to develop solutions that deliver improved economics and performance.
Technology Licensing & Catalysts - this business licenses leading technologies for the production of polypropylene, polyethylene, ethylene oxide, ethylene glycol and oxo alcohols and supplies related catalysts.
Performance Chemicals
Designed Polymers - is a business portfolio of products and systems. Within Designed Polymers, Dow Water Solutions offers brands and component technologies designed to advance the science of desalination, water purification, trace contaminant removal and water recycling.
Other businesses in Designed Polymers, such as Water Soluble Polymers, develop and market a range of products that enhance the physical and sensory properties of end-use products in a wide range of applications including food, pharmaceuticals, oil and gas, paints and coatings, personal care, and building and construction.
Dow Latex - is a major global supplier of latexes, for a wide range of industries and applications. It provides styrene/butadiene products for customers in paper and paperboard (for magazines, catalogues and food packaging) applications, and the carpet and floor covering industry.
Specialty Chemicals - provides products and services used as functional ingredients or processing aids in the manufacture of a diverse range of products. Applications include agricultural and pharmaceutical products and processing, building and construction, chemical processing and intermediates, electronics, food processing and ingredients, gas treating solvents, fuels and lubricants, oil and gas, household and institutional cleaners, coatings and paints, pulp and paper manufacturing, metal degreasing and dry cleaning, and transportation.
Agricultural Sciences
Dow AgroSciences LLC - develops, manufactures and markets products for crop production, weed, insect and plant disease management and industrial and commercial pest management.
Basic Plastics
(1) Polyethylene - supplies polyethylene and polyethylene-based products;
(2) Polystyrene - a producer of polystyrene resins; and
(3) Polypropylene- a global polypropylene supplier supported by manufacturing, technology and R&D expertise.
The Plastics segment also includes polybutadiene rubber, polyethylene terephthalate (PET), purified terephthalic acid (PTA), styrene butadiene rubber and several speciality resins.
Basic Chemicals
Ethylene oxide/ethylene glycol - manufactures ethylene oxide, used primarily for internal consumption, and ethylene glycol, which is sold for use in polyester fibre, PET for food and beverage applications, polyester film and antifreeze.
Core Chemicals - is business is a global producer of basic chemical products, which also serve as key raw materials in many of Dow's performance and plastic products.
Hydrocarbons and Energy
Hydrocarbons & Energy - encompasses the procurement of fuels and crude oil-based raw materials, as well as the supply of products and power for use in Dow's global operations.
Unallocated and Other
New Businesses - include advanced materials for electronics, industrial biotechnology and new developments with a focus on identifying and pursuing emerging commercial and technology opportunities.
Dow's principle joint ventures are:
(1) Compania Mega;
(2) Dow Corning;
(3) EQUATE Petrochemical Company;
(4) Equipolymers;
(5) MEGlobal;
(6) OPTIMAL (group of joint ventures);
(7) SCG-Dow group; and
(8) Univation Technologies.