Dow Chemical 2013 Annual Report Download - page 6

4 The Dow Chemical Company
1st Quarter
 Dowoutlinesitsintenttotarget$1.5billionin
proceedsfromdivestituresaspartoftheCompany’s
ongoingproactiveportfoliomanagementactions.
 Dow’sBoardofDirectorsapprovesasharebuy-back
program,authorizingtherepurchaseofupto$1.5billion
oftheCompany’scommonstockoveraperiodoftime
andfurtherillustratingitscommitmenttoincreasingly
rewardshareholders.
 DowElectronicMaterialslaunchestherstchemical
mechanicalplanarization(CMP)polishingpadsfromthe
newIKONIC™2000andIKONIC™3000polishingpad
series,helpingtosupporttheever-evolvingtechnical
requirementsofthesemiconductormarketsegment.
 Dowentersintoacollaborationagreementwith
Ahlstrom,aglobalber-basedmaterialscompany,to
incorporateAhlstrom’shigh-performance,non-woven
bertechnologyintoanewsetofdrinkingwater
puricationproductstoaddressanunmetneedin
homedrinkingwaterapplications.
 Dowreceivesadirectcashpaymentofnearly
$2.2billionfromPetrochemicalIndustriesCompany
(PIC)ofKuwaitaspartofthenalresolutionofthe
K-Dowarbitration.TheCompanysubsequentlydeployed
thepayment–whichreectsthefulldamagesawarded
bytheInternationalChamberofCommerce,aswellas
recoveryofDow’scostsincurredinthearbitration–to
reducedebtandfurtherenhanceitsbalancesheet.
 SadaraChemicalCompany,ajointventuredeveloped
byDowandSaudiArabianOilCompany,entersinto
denitiveagreementswithcertainexportcredit
agencies,commercialbanksandthePublicInvestment
FundoftheKingdomofSaudiArabiaforproject
nancing,bringingthetotalSadaraprojectnancing
toapproximately$12.5billion.
 DowanditsjointventurepartnerTASNEESahara
OlensCompanyannouncethemechanicalcompletion
oftherstacrylicmonomerproductionfacilityinthe
MiddleEast.Theplantwillhelpprovideareliable,
cost-advantagedsupplyofacrylicemulsionpolymers
forcoatingsandadhesivesapplicationstosupport
growthinkeyemerginggeographies.
 DowAgroSciencesLLCandMonsantoCompany
reachnewcross-licensingagreementstoenablethe
creationofnext-generationSmartStax®corn,including
additionalinsectprotectionandtograntMonsanto
accesstonewENLIST™WeedControlSystemherbicide-
tolerancetraitincorn(pendingregulatoryapproval).
2013 Aiems
In 2013, Dow took focused and disciplined actions to accelerate earnings
growth by increasing return on capital, strengthening its balance sheet and
optimizing its business portfolio.
InFreeport,Texas,wewillincreaseproduction
forourmarket-leadingAFFINITY™GAhotmelt
adhesives,ELITE™EnhancedPolyethylenefor
high-performancepackaging,andspecialtylow-
densitypolyethylene.
2nd Quarter
DowAgroSciencesLLCreceivesapprovalfromU.S.
regulatoryauthoritiestomarketthenewinsecticidal
activeingredient,ISOCLAST™Active(sulfoxaor),as
TRANSFORM™andCLOSER™.ISOCLAST™belongsto
anovelchemicalclasscalledsulfoximinesinvented
byDowAgroSciencesandoerseectivecontrolof
manyimportantsap-feedinginsectpests.