Edward Breen (left), chairman and CEO of DuPont, and Andrew Liveris, president chairman and CEO of Dow.
In light of the Dec. 11 announcement that parent company Dow Chemical was merging with DuPont, Dow AgroSciences has issued the following statement:
The agreement between DuPont and Dow will bring together two powerful innovation and material science leaders in a transaction that will create strong, focused businesses with enhanced global scale and product portfolios, focused capital allocation and differentiated growth strategies.
The intention is to subsequently spin into three independent publicly traded companies, creating leaders in attractive segments – Agriculture, Material Sciences, Specialty Products – where global challenges are driving demands for these businesses’ distinctive offerings.
The Agriculture business will be a leading global pure-play agriculture company, uniting Dow’s Agricultural Sciences segment and DuPont’s Agriculture business. The combined entity will have a robust pipeline of technologies and the most comprehensive and diverse portfolio, uniquely balanced between seeds and crop protection with broad and attractive product offerings, resulting in exceptional value and choice for growers.
It is too preliminary to comment on broader impact at this time, but each of the three created businesses will be a leader in its industry, will be able to allocate capital more effectively, apply its powerful innovation more productively, and expand its products and solutions to more customers worldwide. Each company has a legacy and heritage of science and innovation, and they will have greater capacity to invest and target those resources as productively and effectively as possible.
The company has also created a website, DowDuPontUnlockingValue.com, which hosts a Merger Fact Sheet that outlines the proposed structure for each of the new businesses.
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