DowDuPont
The intended Materials Science Company will be headquartered in Midland, Michigan, USA.
Dow and DuPont have announced the successful completion of their merger, effective as of August 31.
The combined entity is operating as a holding company under the name ‘DowDuPont’ with three divisions – Agriculture, Materials Science and Speciality Products.
Over the next 18 months each division will be assigned its own people, assets, systems and licenses in place to operate independently from the parent company.
DowDuPont intends to create a ‘leading Materials Science Company’, to be named ‘Dow’, that will consist of the businesses comprising the following current Dow operating segments: Performance Plastics, Performance Materials and Chemicals, Infrastructure Solutions and Consumer Solutions (Consumer Care and Dow Automotive Systems; Dow Electronic Materials is intended to go to the Specialty Products Company), as well as DuPont’s current Performance Materials operating segment.
The intended Materials Science Company will reportedly offer the “strongest and broadest chemistry and polymers toolkit in the industry”, the parent company said in a statement, with the scale and competitive capabilities to enable “truly differentiated solutions” for customers in high-growth end markets, including packaging, transportation, infrastructure and consumer care. The intended Materials Science Company will be headquartered in Midland, Michigan, USA.
Andrew Liveris, Executive Chairman of DowDuPont, said the merger marked “a significant milestone” in the storied histories of the two companies.
“We are extremely excited to complete this transformational merger and move forward to create three intended industry-leading, independent, publicly traded companies.While our collective heritage and strength are impressive, the true value of this merger lies in the intended creation of three industry powerhouses that will define their markets and drive growth for the benefit of all stakeholders. Our teams have been working for more than a year on integration planning, and -- as of today -- we will hit the ground running on executing those plans with an intention to complete the separations as quickly as possible.”
Ed Breen, Chief Executive Officer of DowDuPont, added: “For shareholders, customers and employees, closing this transaction is a definitive step toward unlocking higher value and greater opportunities through a future built on sustainable growth and innovation.”