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Global Coatings Network News:
Global Coatings Network News:At the beginning of the new year, Dow DuPont served as the former chief operating officer of the materials sector and the new CEO of Dow Jim Feitlin set the first stop for overseas visits in China.
At the beginning of the new year, Dow DuPont served as the former chief operating officer of the materials sector and the new CEO of Dow Jim Feitlin set the first stop for overseas visits in China.
At the end of 2015, Dow and DuPont announced a merger and the company changed its name to "DowDuPont" (Dow DuPont).
Dow DuPont is only a temporary consortium
Dow and DuPont were founded in 1897 and 1802, respectively.
Regarding the tremendous changes that have taken place in the past three years, Fettering said that before the merger, Dow and DuPont had their own advantages in business.
The most significant change brought about by the business adjustment after the merger was the birth of a brand-new agrochemical company, named Corteva, which is a combination of the agricultural sectors of Dow and DuPont.
After integrating the seed and crop protection businesses owned by Dow and DuPont, Corteva has the strength to be the first echelon of the global agrochemical industry, with annual revenue of approximately US$15 billion.
New Dow and New DuPont business map becomes clear
According to the spin-off plan, after delinking from Dow DuPont, DuPont and Dow will still retain the original company names, but the business system will be very different from the previous ones.
The former will be positioned in specialty products, and the latter will focus on materials science.
The former will be positioned in specialty products, and the latter will focus on materials science.
The new DuPont will take over Dow’s water treatment, electronic materials, and food nutrition businesses, and the plastic packaging and other sectors that originally belonged to DuPont will be transferred to the new Dow’s name.
After this business expansion, the new Dow led by Feitlin has three pillars: packaging and special plastics, industrial intermediate products and construction, and high-performance materials and coatings.
The company's products include plastics, polyurethanes, and silicones.
Wait.
The company's products include plastics, polyurethanes, and silicones.
Wait.
The new Dow will be the largest of the three spin-off listed companies, but the operating income and staff size will be smaller than before the merger and split.
According to the current business framework, New Dow's revenue in 2017 was 44.
8 billion U.
S.
dollars, a decrease of 19% from the previous period.
The total number of employees in the company is 37,000, which is about two-thirds of that before the transaction.
According to the current business framework, New Dow's revenue in 2017 was 44.
8 billion U.
S.
dollars, a decrease of 19% from the previous period.
The total number of employees in the company is 37,000, which is about two-thirds of that before the transaction.
If the merger of Dow and DuPont is for a strong alliance, the subsequent spin-off is intended to make the company more focused, which to a considerable extent reflects the demands of the capital market, especially activist investors.
Activist investors such as TrianFund and ThirdPoint LLC are important promoters of the merger and separation of Dow and DuPont.
Activist investors such as TrianFund and ThirdPoint LLC are important promoters of the merger and separation of Dow and DuPont.
Three months later, the new Dow will be listed again
Three months later, the new Dow will be listed again
In the next few years, New Dow’s capital project expenditures will be reduced from the previous US$4 billion per year to US$2.
8 billion, a drop of 30%.
This is due to the fact that its two large-scale upstream chemical projects in the U.
S.
Gulf of Mexico and Saudi Arabia were completely completed last year.
Put into production.
8 billion, a drop of 30%.
This is due to the fact that its two large-scale upstream chemical projects in the U.
S.
Gulf of Mexico and Saudi Arabia were completely completed last year.
Put into production.
Fettering stated that the company will focus more on investment in the downstream of the industrial chain in the future.
The basic materials produced by the two large-scale chemical projects in the United States and Saudi Arabia will be transformed into higher-value products for the manufacture of automobiles, Manufacturers of terminal consumer products such as mobile phones and skin care products.
The basic materials produced by the two large-scale chemical projects in the United States and Saudi Arabia will be transformed into higher-value products for the manufacture of automobiles, Manufacturers of terminal consumer products such as mobile phones and skin care products.
This strategy will also be applied to China.
New Dow is building a new silicone resin factory in Zhangjiagang City, Jiangsu Province, which can be used as raw materials for beauty, care and other products.
It will be put into production in 2021.
New Dow is building a new silicone resin factory in Zhangjiagang City, Jiangsu Province, which can be used as raw materials for beauty, care and other products.
It will be put into production in 2021.
After the separation of the agrochemical sector, New Dow therefore no longer has to bear high R&D expenditures.
According to the plan, the new Dow's annual research and development expenses will account for no more than 2% of its operating income, which is lower than the previous 2.
9%.
Fettering said that if calculated on the basis of US$50 billion in revenue, US$1 billion will be spent on the research and development of chemical materials, which is not inferior to the past.
According to the plan, the new Dow's annual research and development expenses will account for no more than 2% of its operating income, which is lower than the previous 2.
9%.
Fettering said that if calculated on the basis of US$50 billion in revenue, US$1 billion will be spent on the research and development of chemical materials, which is not inferior to the past.
Before Fettering puts the above-mentioned plan on the new Dow into effect, he still faces many tedious tasks, such as realizing the true separation of the company in the legal and tax sense, and the regulatory filing of listing.
If all goes well, the new Dow will be listed again in three months.
It is destined to be completely different from the previous company that also uses "DOW" as the stock code.