18:38 | 03/04/2019 Companies
Dow successfully completed its separation from DowDuPont, becoming a more focused, streamlined, and leading materials science company. Dow launches with global scale and leading positions in three attractive consumer-driven segments: packaging, infrastructure and consumer care.
The distribution of Dow common stock was completed after market close today, with each DowDuPont stockholder of record receiving one (1) share of Dow common stock for every three (3) shares of DowDuPont common stock held as of the close of business on March 21, 2019. DowDuPont stockholders will also receive cash in lieu of any fractional Dow shares. Dow common stock will begin trading on the New York Stock Exchange (NYSE) under its historical symbol “DOW” on April 2, 2019, and will join the Dow Jones Industrial Average (DJIA) index.
“The changes we have made to Dow’s portfolio, cost structure and mindset are significant. The new Dow is a more focused and streamlined company with a clear playbook to deliver long-term earnings growth and value creation for all stakeholders”, said Jim Fitterling, chief executive officer. “Team Dow is well positioned to achieve our ambition of becoming the most innovative, customer-centric, inclusive and sustainable materials science company. We have all the tools in place to innovate more quickly, to operate more productively, and to invest more prudently to deliver value creating growth, higher returns and enhanced shareholder value.”
The new Company will be referred to by the brand name “Dow,” acknowledging the remarkable legacy while also reflecting the company-wide evolution to a materials science solutions provider. Dow is adopting a new brandline – “Seek Together” – which is a call to action that highlights the value of collaboration to deliver innovation and solutions to our customers and value chains.
Dow has been present in Vietnam since 1995. The Company today gathers around 110 employees at 03 main locations, including 01 manufacturing site in Dong Nai Province, serving customers in the consumer care, infrastructure and packaging industries.
“Vietnam today that is known as a fast growing country is one of the key markets for Dow in the Southeast Asian region. As our longer term commitment, the new Dow continues to be a partner in Vietnam’s economic growth by adding more value to the country’s advanced manufacturing industries and a caring member of the Vietnamese community,” said Ekkasit Lakkananithiphan, General Director of Dow in Vietnam. “The new Company will provide more innovative and sustainable solutions to help Vietnam address the challenges."