DuPont, Dow Announce Site Structure Of Intended Independent Agriculture Company
The corporate headquarters for the Agriculture company will be located in
"This efficient structure takes full advantage of the unique expertise and resources that exist in each location, enabling us to deliver the long-term opportunity for the leading global Agriculture company we intend to create," said
Edward D. Breen, chairman and chief executive officer of
The structure of the Agriculture company was specifically developed to ensure the cost discipline and efficiency necessary to achieve the previously stated
"We want to thank the leaders of each state for a highly constructive, cooperative process to achieve the best possible approach that leverages key advantages in each location. As we advance plans for the intended merger,
"The proposed combination of Dow's and
Andrew N. Liveris, chairman and chief executive officer of Dow. "Combining each company's strengths in science and R&D, with increased global market access, enables greater opportunity for innovative new solutions in both seed and crop protection. The headquarters location of the Agriculture company being announced as
"Today's announcement is another step toward our creation of a leading global agriculture company. The intended Agriculture company will be highly focused, stronger, more competitive, more resilient and better equipped to deliver growth and long-term, sustainable value than either
THREE INTENDED INDEPENDENT, PUBLICLY TRADED COMPANIES
With the announcement of the intended Agriculture company site structure, each headquarters location of the three intended independent, publicly traded companies now has been determined.
Agriculture Company : A leading global pureplay Agriculture company that unites the Seeds and Crop Protection businesses fromDuPont and Dow. The combined entity is expected to have the most comprehensive and diverse portfolio in the industry and a robust pipeline with exceptional growth opportunities in the near, mid and longterm. The complementary offerings will provide growers across geographies with a broad portfolio of solutions and greater choice. The Agriculture company will be headquartered inWilmington, Delaware . In addition, the independent Agriculture company will featureDuPont in the company's name.
Material Science Company : A pureplay industrial leader, consisting of Dow's Performance Plastics, Performance Materials and Chemicals, Infrastructure Solutions, Consumer Care and Automotive Solutions (excluding the Dow Electronic Materials business) operating segments, as well asDuPont's Performance Materials segment. The combination of complementary capabilities is expected to create a low-cost, innovation-driven leader that can provide customers in high-growth, high-value industry segments in packaging, transportation, and infrastructure solutions, among others, with a broad and deep portfolio of cost-effective offerings. The Material Science company will be headquartered inMidland, Michigan . In addition, the independent Material Science company will feature Dow in the company's name.
Specialty Products Company : A leading global specialty business focused on attractive secular growth markets where innovative science capabilities offer a clear competitive advantage. The company is expected to be composed of four strong businesses which includeDuPont's Nutrition & Health, Industrial Biosciences, and Protective Solutions businesses as well as the integration ofDuPont's Electronics & Communications business with Dow's Electronic Materials business unit. The Specialty Products company will be headquartered inWilmington, Delaware .
Prior to the intended separation into three independent companies, DowDuPont will be dual headquartered in
Both parties continue to plan for the closing of the transaction during the second half of 2016, subject to satisfying the necessary closing conditions including obtaining the required pre-merger regulatory approvals.
ABOUT
ABOUT DOW
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from material, polymer, chemical and biological science to help address many of the world's most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. Dow's integrated, market-driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 180 countries and in high-growth sectors such as packaging, electronics, water, coatings and agriculture. In 2015, Dow had annual sales of nearly
Комментарии