Dow has sold its rail infrastructure assets and related equipment at six major North American sites to the transportation company – Watco Companies. The deal is in line with the company’s strategy of investing in core businesses.
At Dow’s annual meeting, the company’s Board of Directors decided that the present CEO Jim Fitterling should be selected as Dow’s new Chairman. Also, Jill Wyant, executive vice president and president of global regions at Ecolab was nominated to stand for election to Dow’s Board of Directors at the meeting.
Post partying ways, Dow has gone on to become a more focused and streamlined materials science company. The firm has also been launched with three core consumer-driven segments namely packaging, infrastructure and consumer care.
Dow announced a series of incremental methyl cellulose capacity investments to help construction dry mix customers secure supply of key additives for this expanding area. These capacity increases are part of a multi-phase investment plan for construction chemicals.
Dow and Saudi Aramco announced a non-binding Memorandum of Understanding (MOU) that involves the acquisition of an additional 15 % ownership interest by Dow from Saudi Aramco in Sadara, a joint venture developed by the two companies.