- Transaction enables the Company to further focus on core,
high-value downstream markets
- Proceeds will be used to support Dow's capital allocation
priorities, including value-creating growth investments
MIDLAND,
Mich., Dec. 2, 2024 /PRNewswire/ --
Dow (NYSE: DOW) announced today the completion of its
previously announced sale of the Company's flexible packaging
laminating adhesives business, within Dow's Packaging &
Specialty Plastics segment, for $150 million to Arkema, a
specialty materials leader.
The sale, announced May 2, 2024,
includes five manufacturing sites in Italy, the United
States, and Mexico. The
business includes Solvent-Based and Solventless Laminating
Adhesives and Heat Seal Coating product portfolios.
Proceeds from the transaction will support Dow's capital
allocation priorities, including accelerating our growth strategies
and delivering long-term shareholder value. The completion of this
sale, along with the acquisition earlier this year of
Circulus, a mechanical recycler, exemplifies Dow's commitment
to aligning the Company's portfolio with its growth strategy and
circularity platforms.
"We are pleased to announce the successful completion of this
divestiture, a strategic move that aligns with Dow's long-term
vision. This transaction not only strengthens our core business but
also positions us for future growth and innovation," said
Karen S. Carter, president of
Packaging & Specialty Plastics at Dow. "By focusing on our key
strengths, we can enhance our ability to deliver value to our
customers and stakeholders."
Dow retains its water-based laminating adhesives, acrylic
adhesives, and adhesive solutions businesses, which remain core to
its growth and sustainability strategies.
About Dow
Dow (NYSE: DOW) is one of the world's
leading materials science companies, serving customers in
high-growth markets such as packaging, infrastructure, mobility and
consumer applications. Our global breadth, asset integration
and scale, focused innovation, leading business positions and
commitment to sustainability enable us to achieve profitable growth
and help deliver a sustainable future. We operate manufacturing
sites in 31 countries and employ
approximately 35,900 people. Dow delivered sales of
approximately $45 billion in 2023. References to Dow or
the Company mean Dow Inc. and its subsidiaries. Learn more about us
and our ambition to be the most innovative, customer-centric,
inclusive and sustainable materials science company in the world by
visiting www.dow.com.
For further information, please contact:
Sarah
Young
Dow
syoung3@dow.com
X:
https://twitter.com/DowNewsroom
Facebook: https://www.facebook.com/dow/
LinkedIn: http://www.linkedin.com/company/dow-chemical
Instagram: http://instagram.com/dow_official
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SOURCE The Dow Chemical Company