Dow Chemical 2011 Annual Report Download - page 64

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• Dow and Mitsui & Co., Ltd. announced the formation of a joint venture aimed at providing innovative and sustainable
product solutions to the global high-performance flexible packaging, hygiene and medical end-markets. When completed,
the joint venture is expected to be the world's largest integrated facility for the production of biopolymers made from
renewable, sugarcane-derived ethanol, and will be Dow's largest investment in Brazil.
• Dow and Ube Industries, Ltd. announced an agreement to form a joint venture to manufacture and market formulated
electrolytes for lithium-ion batteries in energy storage applications.
• Dow announced comprehensive plans to increase its ethylene and propylene production and further integrate feedstock
opportunities from increasing supplies of shale gas into the Company's U.S. Gulf Coast operations. Dow also announced a
memorandum of understanding with Range Resources Corporation to enter into a long-term ethane supply agreement from
the Marcellus Region in southwest Pennsylvania to Dow's operations in Louisiana.
• Dow AgroSciences and M.S. Technologies LLC announced a collaborative submission to the U.S. Department of
Agriculture for approval of the first-ever, three-gene herbicide-tolerant soybean.
• Dow completed the sale of its Polypropylene business to Braskem SA. The divestiture reflects Dow's disciplined and
ongoing approach to portfolio management and its continuing strategy to shed low-margin commodity businesses.
• Dow Coating Materials launched EVOQUE™ Pre-Composite Polymer Technology, a revolutionary development for paints
and coatings that improves hiding efficiency and enables paint manufacturers to use up to 20 percent less titanium dioxide.
• Dow launched ELITE™ Advanced Technology Polyethylene Resins, a proprietary technology that benefits film converters
in high-value market segments, such as food and specialty packaging, as well as industrial and consumer packaging.
• Dow launched DOW POWERHOUSE™ solar shingles to select U.S. markets, starting in Colorado and expanding into
targeted states through 2012. In addition, the Company announced that D.R. Horton has entered into an agreement with
Dow to be the first national homebuilder to offer DOW POWERHOUSE™ solar shingles on select new homes.
• Dow AgroSciences received registration from the U.S. Environmental Protection Agency for REFUGE ADVANCED™
powered by SmartStax®, completing federal regulatory authorization in the United States and becoming the industry's first
single-bag refuge solution for corn.
• Dow received the 2012 Green Cross for Safety Medal from the National Safety Council in recognition of the Company's
outstanding achievements in workplace safety, community service, environmental stewardship and responsible citizenship.
• Dow was named as the first global partner of the United Nations-designated International Year of Chemistry and helped
launch a year-long global celebration of the power of science to solve the world's most pressing challenges.
• Dow's Board of Directors increased the dividend from $0.15 per common share to $0.25 per common share, a 67 percent
increase, beginning in the second quarter of 2011.
• Dow was named to the Dow Jones Sustainability World Index - the eleventh time the Company has received this
recognition since the index was launched. In addition to improving its rating from last year, Dow achieved the highest
score in the chemical sector for corporate governance.
Looking to 2012, Dow expects growth in emerging geographies to continue, driven by a broad range of leading end-
markets such as agriculture, food and water. The Company projects that these geographies will continue to grow at a higher rate
than developed geographies, although year-over-year comparisons will be subdued. Lingering challenges will persist in
developed geographies, particularly Western Europe. Consequently, the Company's plans do not assume material improvements
in end-market conditions for the first half of the year. Dow's downstream, market-driven businesses are positioned to capture
value from improving North American feedstock dynamics, which are expected to take hold in the second half of 2012. Dow's
success will continue to be driven by its transformed business portfolio, balanced geographic presence and investments in
innovations aimed at the intersection of greatest societal need and business opportunity.
Dow’s results of operations and financial condition for the year ended December 31, 2011 are described in further detail in
the following discussion and analysis.