Dow Europe Exploring Divestiture Options for Synthetic Rubber Business
MIDLAND, Mich. and NEW YORK, May 11 /PRNewswire/ -- Dow Europe GmbH ("Dow"), a subsidiary of The Dow Chemical Company (NYSE: DOW), has announced that it is exploring divestiture options for its Synthetic Rubber business. Dow has engaged J.P. Morgan to act as financial adviser in support of this effort.
The exploration of strategic options for the business is driven by Dow's ongoing efforts to streamline and improve the company's portfolio of businesses. Dow's Synthetic Rubber business has been, and continues to be, a profitable business and will remain sharply focused on effectively managing operations and delivering exceptional value to customers during this period.
The business is a global leader in the production and distribution of synthetic rubbers, with a broad portfolio of products, from mature rubber materials to specialized high performance elastomers. Dow has a long history of industry leadership in rubber polymers solutions, offering leading-edge technologies, innovative solutions and high performance standards.
The business has been working closely with leading tire manufacturers to develop new types of rubber for low rolling resistance, which will lead to lower fuel consumption and less CO2 emissions in vehicles. In addition to tires, synthetic rubber produced by Dow also is used in plastic modification and technical rubber goods such as hoses, conveyor belts, and footwear.
The business is strategically located in central Germany to access all key markets for synthetic rubber, and includes five production plants and a research center in Schkopau, Germany.
About The Dow Chemical Company (parent company of Dow Europe GmbH)
With sales of $58 billion in 2008 and 46,000 employees worldwide, Dow is a diversified chemical company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress. The Company delivers a broad range of products and services to customers in around 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. On April 1, 2009, Dow acquired Rohm and Haas Company, a global specialty materials company with sales of $10 billion in 2008 and 15,000 employees worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
