Dear Valued Supplier,
On February 2, 2017, The Dow Chemical Company (“Dow”) signed an agreement under which its Ethylene Acrylic Acid (EAA) Copolymers Business will be acquired by SK Global Chemical Co., LTD. The product line that is within this agreement is the PRIMACOR™ product line.
How will this sale impact you?
You are receiving this message because your company may currently provide, or has been providing, services or products that will be acquired by SK Global Chemical Co., LTD, and we want to provide you the opportunity to ensure a smooth transition. There will be no change in purchasing or invoicing procedures until the transaction closes.
What will change at transaction close?
In this communication we are providing more detailed information to facilitate the setup of your system with SK Global Chemical Co., LTD as a vendor in order for you to be able to place orders and remit payments. We are using the September 1, 2017 date below for planning purposes. After the transaction close, we will enter into a transition period. During this period, Dow will provide operation, purchasing and accounts payable services to the SK Global Chemical Co., LTD business.
Strategic sourcing for all areas will be managed by SK Global Chemical Co., LTD after September 1, 2017. SK Global Chemical Co., LTD sourcing contacts are listed in the table below:
|Area Supported||Contact Name||Contact Email||Contact Phone|
|Raw Materials||Charles Choiemail@example.com||+82-10-3580-9176|
Action Needed for Invoices Dated After September 1, 2017
- Expect changes to legal entity names, mailing addresses, VAT #s, tax ID #s and remit-to information. Refer to the “To Be Legal Entity” and “Remit To Information” on your invoice. Please visit the Dow Ethylene Acrylic Acid website to obtain this financial information at: http://www.dow.com/en-us/about-dow/our-company/work-with-dow/dow-ethylene-acrylic-acid.
- If your INCO terms are changing, you will have received a separate communication about the changes from your current Account Representative.
- If you are using an e commerce tool, you will receive a separate communication describing any potential changes you will need to implement. This communication will come directly from your Customer Service Representative.
- To ensure a smooth transition, Dow will initiate a Shipping Holiday for a short period, according to the schedule below. During this holiday no shipments will be permitted.
Shipping Holiday Event Day Date Time Shipping Holiday Begins Wednesday August 30, 2017 8:00 AM Local Time Shipping Holiday Ends Friday September 1, 2017 10:00 PM EDT
- Regulatory status of the in scope products will remain the same. Please visit the website for in-scope products.
What should you know about operations/accounts payable?
- For deliveries made before September 1, 2017, there are no changes.
- For deliveries made after September 1, 2017, to ensure accurate handling and timely payment of your invoices, the mailing (invoice to) address is where you will mail your invoices with the provided information that can be found on the Ethylene Acrylic Acid Customer and Supplier website.
- Legal company information as well as the mailing (invoice to) addresses are shown on Ethylene Acrylic Acid Customer and Supplier website. The legal entity address is REQUIRED on your invoices.
Open purchase orders (POs) will migrate to SK Global Chemical Co., LTD at close. New PO numbers will be communicated to relevant suppliers, as needed.
Please make sure this information is adapted in your work processes and systems.
We appreciate that this transition may generate questions. In the next several weeks your Purchasing and Business representatives will work with you to help achieve a smooth transition.
Please share this communication with those in your organization who may benefit from understanding more about this announcement. Both Dow and SK Global Chemical Co., LTD are committed to providing further information as it becomes available and working closely with you for a seamless and speedy transition at transaction close.
If you have further questions, please reach out to your Dow or SK Global Chemical Co., LTD contact person. We will do whatever we can to answer all of your questions as directly and quickly as possible.
The Dow Chemical Company