Dow Chemical and DuPont have completed their $130-billion merger of equals, bringing together two industrial icons, if only for the next 18 months. The merger was first announced in December 2015
Andrew Liveris will be the executive chairman of DowDuPont. He was Dow chairman and CEO. “While our collective heritage and strength are impressive, the true value of this merger lies in the intended creation of three industry powerhouses that will define their markets.” DuPont chairman and CEO Edward Breen will serve as DowDuPont CEO. Dow executive v.p. and CFO Howard Ungerleider will serve as CFO of the combined company. DowDuPont says that leaders and integration teams from both companies are developing operating models and organizations that will enable the three intended spinoffs expected to occur within 18 months. The materials science company, to be named Dow, will consist of most of Dow’s operating segments, excluding agriculture and electronic materials, as well as DuPont’s engineering plastics segment. The materials science company will be headquartered in Midland, Michigan. Adjusted annual sales for the materials science company are roughly $51 billion. An agriculture company, with annual sales of roughly $16 billion contains DuPont Pioneer, DuPont Crop Protection and Dow AgroSciences. The agriculture business, which intends to incorporate DuPont into its name, will be headquartered in Wilmington, Delaware, with global business centers in Johnston, Iowa, and Indianapolis, Indiana. The intended specialty products company, with annual sales of $12 billion will include DuPont’s protection solutions, sustainable solutions, industrial biosciences and nutrition and health as well as the health and nutrition business from FMC pending the close of that transaction. The business will also have an electronic materials segment, which combines DuPont’s electronic and communications business with Dow’s electronic materials business unit. The intended specialty products company will be headquartered in Wilmington.