Dow Chemical 2013 Annual Report Download - page 6
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Please find page 6 of the 2013 Dow Chemical annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.4 The Dow Chemical Company
1st Quarter
Dowoutlinesitsintenttotarget$1.5billionin
proceedsfromdivestituresaspartoftheCompany’s
ongoingproactiveportfoliomanagementactions.
Dow’sBoardofDirectorsapprovesasharebuy-back
program,authorizingtherepurchaseofupto$1.5billion
oftheCompany’scommonstockoveraperiodoftime
andfurtherillustratingitscommitmenttoincreasingly
rewardshareholders.
DowElectronicMaterialslaunchestherstchemical
mechanicalplanarization(CMP)polishingpadsfromthe
newIKONIC™2000andIKONIC™3000polishingpad
series,helpingtosupporttheever-evolvingtechnical
requirementsofthesemiconductormarketsegment.
Dowentersintoacollaborationagreementwith
Ahlstrom,aglobalber-basedmaterialscompany,to
incorporateAhlstrom’shigh-performance,non-woven
bertechnologyintoanewsetofdrinkingwater
puricationproductstoaddressanunmetneedin
homedrinkingwaterapplications.
Dowreceivesadirectcashpaymentofnearly
$2.2billionfromPetrochemicalIndustriesCompany
(PIC)ofKuwaitaspartofthenalresolutionofthe
K-Dowarbitration.TheCompanysubsequentlydeployed
thepayment–whichreectsthefulldamagesawarded
bytheInternationalChamberofCommerce,aswellas
recoveryofDow’scostsincurredinthearbitration–to
reducedebtandfurtherenhanceitsbalancesheet.
SadaraChemicalCompany,ajointventuredeveloped
byDowandSaudiArabianOilCompany,entersinto
denitiveagreementswithcertainexportcredit
agencies,commercialbanksandthePublicInvestment
FundoftheKingdomofSaudiArabiaforproject
nancing,bringingthetotalSadaraprojectnancing
toapproximately$12.5billion.
DowanditsjointventurepartnerTASNEESahara
OlensCompanyannouncethemechanicalcompletion
oftherstacrylicmonomerproductionfacilityinthe
MiddleEast.Theplantwillhelpprovideareliable,
cost-advantagedsupplyofacrylicemulsionpolymers
forcoatingsandadhesivesapplicationstosupport
growthinkeyemerginggeographies.
DowAgroSciencesLLCandMonsantoCompany
reachnewcross-licensingagreementstoenablethe
creationofnext-generationSmartStax®corn,including
additionalinsectprotectionandtograntMonsanto
accesstonewENLIST™WeedControlSystemherbicide-
tolerancetraitincorn(pendingregulatoryapproval).
2013 Aiems
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.
InFreeport,Texas,wewillincreaseproduction
forourmarket-leadingAFFINITY™GAhotmelt
adhesives,ELITE™EnhancedPolyethylenefor
high-performancepackaging,andspecialtylow-
densitypolyethylene.
2nd Quarter
DowAgroSciencesLLCreceivesapprovalfromU.S.
regulatoryauthoritiestomarketthenewinsecticidal
activeingredient,ISOCLAST™Active(sulfoxaor),as
TRANSFORM™andCLOSER™.ISOCLAST™belongsto
anovelchemicalclasscalledsulfoximinesinvented
byDowAgroSciencesandoerseectivecontrolof
manyimportantsap-feedinginsectpests.