Dow Chemical 2015 Annual Report Download - page 18

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Dow Automotive Systems
Dow Automotive Systems is a leading global provider of collaborative solutions and advanced materials for original equipment
manufacturers, tier suppliers, aftermarket customers and commercial transportation manufacturers. Dow Automotive Systems’
leading technologies, materials engineering, testing and service support are complemented by a robust line of structural, elastic
and rubber-to-substrate adhesives; composite materials technologies; polyurethane foams and acoustical management systems;
and films and fluids.
Dow Automotive Systems’ principal businesses offer the following technologies and serve the following market segments:
Business Market Segments Technologies
Adhesives Elastic, structural and specialty
adhesives
Innovative and differentiated adhesive
technologies to meet customer specifications for
durability and crash performance
Performance Solutions Performance plastics, fluids and
polyurethane foam solutions
Technologies that differentiate customers’
products with improved performance
characteristics
Dow Electronic Materials
Dow Electronic Materials is a leading global supplier of enabling materials for a broad range of consumer electronics including
smartphones, tablets, television monitors and personal computers, as well as electronic devices and systems used in a variety of
industries. The business produces materials for chemical mechanical planarization ("CMP"); materials used in the production of
electronic displays, including films, filters and organic light-emitting diodes ("OLEDs"); metalorganic precursors for light-
emitting diodes ("LEDs"); products and technologies that drive leading-edge semiconductor design; materials used in the
fabrication of printed circuit boards; and integrated metallization processes for metal finishing and decorative applications.
Dow Electronic Materials is comprised of four principal businesses, each serving one or more key market segments, as noted
below:
Business Market Segments Technologies
Semiconductor Technologies Integrated circuit fabrication for
memory and logic
CMP consumables, photolithography materials
Interconnect Technologies Printed circuit board, electronic and
industrial finishing
Interconnect metallization and imaging process
chemistries
Display Technologies Display materials Display films and filters, OLED materials
Growth Technologies New and emerging technologies Advanced chip packaging materials,
metalorganic precursors, optical and ceramic
materials
Competition
The Consumer Solutions segment experiences competition in each business within the segment. The competitors include many
large, multinational chemical firms as well as a number of regional and local competitors. The segment's products have unique
performance characteristics that are required by customers who demand a high-level of customer service and technical expertise
from the Company's sales force and scientists; therefore, Dow is well positioned to withstand competitive threats. Key
competitors include Ashland, BASF, Bayer, JSR Micro and Shin-Etsu Chemical.
Joint Ventures
The Consumer Solutions segment includes a portion of the Company's share of the results of Dow Corning Corporation ("Dow
Corning"), a joint venture that manufactures silicone and silicone products, which is owned 50 percent by the Company.
On December 10, 2015, the Company entered into a definitive agreement to restructure the ownership of Dow Corning. Under
the terms of the agreement, Dow will become the 100 percent owner of Dow Corning, currently a 50:50 joint venture between
Dow and Corning Incorporated ("Corning"). Dow and Corning will maintain their current equity stake in the Hemlock
Semiconductor Group. The transaction is expected to close in the first half of 2016.