Dow and ExxonMobil sign definitive agreement to restructure ownership of Univation Technologies

06-Oct-14

The Dow Chemical Company and ExxonMobil Chemical Company have jointly announced signing of a definitive agreement to restructure the ownership of Univation Technologies, LLC, currently a 50:50 joint venture between affiliates of Dow and ExxonMobil. This transaction will result in Univation Technologies becoming a wholly-owned subsidiary of Dow aligned to its Performance Plastics operating segment. “Univation Technologies is a global leader serving a growing, high-margin market,” said Cindy Shulman, president of Univation Technologies. “Univation remains committed to reliably serving our customers and licensees with the world’s leading gas phase polyethylene process technology and associated catalysts and looks forward to being aligned with Dow’s Performance Plastics franchise.” Univation Technologies is the licensor of UNIPOL™ PE Process Technology and the leader in the development, manufacture and sales of PE catalysts for the UNIPOL™ PE Process. Univation Technologies will continue to license its UNIPOL™ PE Process Technology, including swing capability for linear low density polyethylene and high density polyethylene. Additionally, Univation Technologies will continue to develop and supply all catalysts, including: UCAT™ Conventional, ACCLAIM™ Advanced Unimodal, XCAT™ Metallocene and PRODIGY™ Bimodal Catalysts. The transaction is expected to close by the end of 2014, pending regulatory approval. Dow and ExxonMobil are committed to working closely together to ensure a seamless transition for all stakeholders.