Dow Chemical 2010 Annual Report Download - page 8

6The Dow Chemical Company
u First Quarter
Dow signs a definitive agreement to divest Styron to Bain
Capital Partners for $1.6 billion. The Company also finalizes the
sales of its acrylic acid and esters business in Clear Lake, Texas,
and its UCAR Emulsion Systems specialty latex business in
North America to Arkema.
The Company surpasses its full-year growth synergy target
related to the acquisition of Rohm and Haas, delivering
$530 million in sales on an annual run-rate basis.
Dow successfully completes a two-year, multimillion-dollar
project to transform its STYROFOAM™ Brand Insulation to a
more sustainable manufacturing technology in North America,
cutting in half the greenhouse gas emissions from production
at all of its converted facilities in the region.
DOW™ POWERHOUSE™ Solar Shingle receives a
GLOBE Foundation award for “Environmental Excellence
in Emerging Technology.”
Dow AgroSciences announces the first commercial sale
of SmartStax™ corn hybrid. A revolutionary new seed trait
combination, SmartStax™ also receives the AgProfessional
Readers’ Choice 2009 New Product of the Year award.
Paul Polman, CEO of Unilever PLC and Unilever N.V., is elected
to Dow’s Board of Directors, and William H. Weideman is
appointed Executive Vice President and Chief Financial Officer.
Dow supports efforts to assist disaster recovery in Haiti and
Chile, following devastating earthquakes in both countries.
u Second Quarter
Dow Advanced Materials1 hosts its first-ever Sector Day for media
and investors, during which it projects sales will grow to $12 billion
by 2012 and EBITDA will nearly double to roughly $3 billion by 2012.
Growth will be driven by leadership positions in fast-growing end-
markets, a strong geographic position and a robust innovation pipeline.
Dow exceeds its commitments to deliver cost synergies related
to the acquisition of Rohm and Haas and to reduce structural
costs, achieving a run-rate of more than $2 billion.
Dow completes the sale of Styron and exceeds its goal of divesting
$5 billion in non-strategic assets in less than two years.
Joint venture Dow Kokam breaks ground on a world-scale
lithium ion battery manufacturing facility in Midland, Michigan.
In conjunction with the groundbreaking, Dow hosts U.S. Vice
President Joe Biden at its headquarters and showcases several
of the Company’s major green technology initiatives.
Dow and Cobblestone Homes introduce Michigan’s first affordable
net-zero energy home, constructed with energy-efficient technologies
from Dow.
Dow Electronic Materials announces a multi-phase plan to
expand its trimethylgallium (TMG) production capacity to serve
the fast-growing LED industry. Plans include adding significant
TMG capacity at existing U.S. facilities and building a new
manufacturing plant in Cheonan, Korea.
Dow AgroSciences and Bayer CropScience enter into cross-licensing
agreements for cotton technologies. Through the combination of
leading technologies such as WideStrike® Insect Protection and
GlyTol™, cotton growers worldwide will have more choices for
improving productivity.
Dow and BASF receive a 2010 Presidential Green Chemistry Challenge
Award for jointly developed hydrogen peroxide to propylene oxide
(HPPO) technology. The technology vastly improves the production
process of a key chemical intermediate, propylene oxide.
Dow wins four 2010 American Chemistry Council Responsible
Care® Energy Efficiency Awards for programs that improved
energy efficiency at three of the Company’s U.S. facilities.
Dow is added to the NASDAQ OMX CRD Global Sustainability 50
Index for the first time. The index is comprised of companies that
have taken a leadership role in sustainability performance reporting.
Dow continues its commitment to chemical safety with a five-year,
$5 million research grant to The Hamner Institute.
2010 Achievements
In 2010, Dow was focused on the execution
of our strategy and delivering on the
promise of our new portfolio.
1
Dow Advanced Materials includes the Electronic and Specialty Materials, and Coatings and
Infrastructure operating segments.