Dow Chemical and DuPont have completed their $130-billion merger of equals, bringing together two industrial icons, if only for the next 18 months. The merger was first announced in December 2015. Shares in DowDuPont Inc. will begin trading on the New York Stock Exchange 1 September under the ticker symbol "DWDP".
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The materials science company, to be named Dow, will consist of most of Dow's operating segments, excluding agriculture and electronic materials, as well as DuPont's engineering plastics segment. The materials science company will be headquartered in Midland, Michigan. Adjusted annual sales for the materials science company are roughly $51 billion with Ebitda of $10 billion. Jim Fitterling, Dow executive v.p. and COO, is COO for materials science. An agriculture company, with annual sales of roughly $16 billion and Ebitda of $3 billion, contains DuPont Pioneer, DuPont Crop Protection and Dow AgroSciences. The agriculture business, which intends to incorporate DuPont into its name, will be headquartered in Wilmington, Delaware, with global business centers in Johnston, Iowa, and Indianapolis, Indiana. DuPont executive v.p. James Collins is COO for agriculture.
The intended specialty products company, with annual sales of $12 billion and Ebitda of $3 billion, will include DuPont's protection solutions, sustainable solutions, industrial biosciences and nutrition and health as well as the health and nutrition business from FMC pending the close of that transaction. The business will also have an electronic materials segment, which combines DuPont's electronic and communications business with Dow's electronic materials business unit. The intended specialty products company will be headquartered in Wilmington. Marc Doyle, DuPont executive v.p., has been named COO for specialty products.
