Wilmington, Delaware – DowDuPont has completed the spin-out of its materials science division into Dow. This includes the company’s polyurethanes operations.
The new Dow business began trading on the New York Stock Exchange on 2 April under the symbol DOW. DowDuPont common stockholders received one Dow share for every three DowDuPont shares, plus cash in lieu of fractional shares.
‘[This] completes our first step toward creating three strong, independent growth companies set to be industry leaders focused on driving innovation and delivering long-term value for shareholders,’ said Ed Breen, CEO of DowDuPont. ‘Dow begins its next chapter as a more focused, disciplined and market-oriented company, and I am excited for the tremendous opportunities ahead for its employees, shareholders, and customers.’
In addition, the separation of the agriculture division, Corteva Agriscience, is still on track for 1 June. After this occurs, the specialty products division will remain with DowDuPont, and it will be renamed DuPont.