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April 02, 2019 12:00 AM

Dow spins out of DowDuPont

Sarah Houlton
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    Wilmington, Delaware – DowDuPont has completed the spin-out of its materials science division into Dow. This includes the company’s polyurethanes operations.

    The new Dow business began trading on the New York Stock Exchange on 2 April under the symbol DOW. DowDuPont common stockholders received one Dow share for every three DowDuPont shares, plus cash in lieu of fractional shares.

    Breen: driving innovation

    ‘[This] completes our first step toward creating three strong, independent growth companies set to be industry leaders focused on driving innovation and delivering long-term value for shareholders,’ said Ed Breen, CEO of DowDuPont. ‘Dow begins its next chapter as a more focused, disciplined and market-oriented company, and I am excited for the tremendous opportunities ahead for its employees, shareholders, and customers.’

    In addition, the separation of the agriculture division, Corteva Agriscience, is still on track for 1 June. After this occurs, the specialty products division will remain with DowDuPont, and it will be renamed DuPont.

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