/C O R R E C T I O N -- The Dow Chemical Company/.
Dow Announces Post Close Organization for Rohm and Haas Advanced Materials Division -- Marking Major Step in Dow's Transformation to an Earnings Growth Company
MIDLAND, Mich., Nov. 13 /PRNewswire-FirstCall/ -- The Dow Chemical Company announced today the anticipated post close organization for the previously announced Rohm and Haas Advanced Materials Division, which will take effect following the regulatory approval and close of Dow's pending acquisition of Rohm and Haas. Closing is targeted for early 2009. Pierre Brondeau, currently president and chief operating officer of Rohm and Haas, will lead the Rohm and Haas Advanced Materials Division of Dow.
"Establishing the organization for the new Rohm and Haas Advanced Materials Division will represent another important milestone in Dow's transformation to becoming an earnings growth company," said Dow Chairman and CEO Andrew N. Liveris. "This new division, with its strong leadership, will represent the preeminent advanced materials solutions provider. It will be a dynamic, profitable and widely respected industry leader."
Drawing on the complementary strengths of both Rohm and Haas and Dow, the new division will be comprised almost equally of Businesses and key leaders from each company. The Rohm and Haas Advanced Materials Division will be structured into six Business Groups. Each Business Group will be built with differentiated, specialized technologies and products designed to leverage complementary market positions. The Business Groups and their leaders are:
-- Coatings, which will be led by Luis Fernandez (Rohm and Haas) -- Building and Construction, which will be led by Torsten Kraef (Dow) -- Paper and Textiles, which will be led by Philippe Raynaud de Fitte (Dow) -- Specialty Packaging and Films, which will be led by Patrice Barthelmes (Rohm and Haas) -- Designed Polymers and Separation Technologies, which will be led by Peter Davies (Dow) -- Electronic Materials, which will be led by Yi Hyon Paik (Rohm and Haas)
In addition to his business responsibilities, Patrice Barthelmes will be responsible for European operations for the Rohm and Haas Advanced Materials Division.
Mark Douglas, Vice President Asia Pacific Region, will lead the Asia Pacific Region for the new division, a position he currently holds with Rohm and Haas. He will continue to be based in Shanghai and will coordinate the growth agendas in this rapidly developing economy.
"The individuals appointed to lead the Business Groups of the new Rohm and Haas Advanced Materials Division are proven leaders with exceptional industry knowledge. Together they will form the premier team in the specialty materials marketplace and will work to achieve the aspirations of this new division," said Liveris.
With annual sales of $54 billion and 46,000 employees worldwide, Dow is a diversified chemical company that combines the power of science and technology with the " Human Element " to constantly improve what is essential to human progress. The Company delivers a broad range of products and services to customers in around 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.
About Rohm and Haas
Leading the way since 1909, Rohm and Haas is a global pioneer in the creation and development of innovative technologies and solutions for the specialty materials industry. The company's technologies are found in a wide range of industries including: Building and Construction, Electronics and Electronic Devices, Household Goods and Personal Care, Packaging and Paper, Transportation, Pharmaceutical and Medical, Water, Food and Food Related, and Industrial Process. Innovative Rohm and Haas technologies and solutions help to improve life every day, around the world. Based in Philadelphia, PA, the company generated annual sales of approximately $8.9 billion in 2007. Visit http://www.rohmhaas.com/ for more information. Imagine the possibilities(TM).
Note: The statements contained in this document involve risks and uncertainties that may affect the Company's operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the Company's expectations will be realized. The Company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
Web site: http://www.rohmhaas.com/
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|Date:||Nov 13, 2008|
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