Midland, Michigan – Dow Inc. is about to make its debut on the Dow Jones Industrial Average, replacing DowDuPont Inc., as the group breaks up into three smaller companies.
The company formally spun off from DowDuPont Inc. on 1 April and on 2 April will begin trading on the New York Stock Exchange under the trade symbol DOW.
“Today marks the beginning of a new and exciting chapter for Dow,” CEO Jim Fitterling said in a 1 April news release.
“The changes we have made to Dow’s portfolio, cost structure and mindset are significant,” he added.
The new Dow, according to Fitterling, is “a more focused and streamlined company with a clear playbook to deliver long-term earnings growth and value creation for all stakeholders.”
Dow aims to drive growth for its customers, “leveraging three advantaged building blocks — ethylene, propylene and silicones — to power one of the deepest chemistry sets in the industry.”
DowDuPont, formed by the $130 billion (€116 billion) merger of chemical giants Dow Chemical Co. and DuPont Co. in 2017, is splitting into three companies: Dow Inc., DuPont and Corteva Agriscience.
Corteva is expected to officially spin off in June.