MIDLAND, Mich. - December 03, 2012
Dow Elastomers, a business unit of The Dow Chemical Company (NYSE: DOW), today announced it has achieved record year-to-date sales and EBITDA, marking the third year of continuous top and bottom line growth. These strong financial results are driven, in large part, by the diversification into new market segments and the introduction of disruptive innovation. The momentum Dow Elastomers has experienced in recent years is accredited to the Company’s continued investment in improving product offerings that enable its customers’ success in existing and emerging markets.
“We will continue setting superior technology and process standards to meet our aggressive financial commitments while growing market share. This will sustain our leadership position in foundational markets while we cultivate new market opportunities,” said Kim Ann Mink, Ph.D., business president, Dow Elastomers, Electrical and Telecommunications. “Dow will support customers now and in the future with targeted solutions through this focused innovation.”
To meet its customer’s growing needs, Dow announced plans earlier this year to build a world-scale plant for the production of its metallocene ethylene propylene diene monomer (EPDM), sold under the NORDEL™ IP Hydrocarbon Rubber trademark. This new facility will allow Dow to meet the increasing global demand for EPDM in applications such as automotive hoses, belts, weather-stripping and roofing membranes. In addition, implementation of next-generation technology will allow the Company to broaden its offering to include high mooney viscosity products with enhanced quality. The facility will benefit from Dow’s operations feedstock advantages available from increasing supplies of U. S. shale gas on the Gulf Coast.
In the product development space, Dow concentrated efforts on new elastomer products, introducing two additions to the family of AFFINITY™ GA Polyolefin Elastomers, to expand solutions for packaging, bookbinding and non-woven applications. AFFINITY™ GA 1000R, a Maleic anhydride (MAH) grafted polymer, and AFFINITY™ GA 1875 offer outstanding processability and improved adhesion, particularly for hard-to-bond substrates.
Dow Elastomers received many accolades for technological achievements in 2012. The business had a starring role in the London 2012 Olympics, making possible the signature wrap that encircled the Olympic Stadium. Dow Elastomers’ technology enabled, for the first time, a unique combination of flexibility, physical strength and fire resistance, while meeting additional performance requirements, including printability, processability, longevity and abrasion resistance. Formulated from a lightweight polyester fabric with a polyolefin elastomer-based coating that had never been produced before, the wrap accounted for less than half of one percent of the stadium’s total carbon footprint – satisfying the sustainability standards for both Dow and the London Organizing Committee for the Olympic Games. Dow is currently working with leading UK-based building and development charity Article 25 and recycling company Axion Recycling to repurpose the stadium wrap. Re-use projects are scheduled in the UK, for shelter solutions for at-risk children in Uganda, and for sunshade applications at the upcoming Olympic Games in Rio.
Additionally, Dow’s latest technological advancement was honored in the “Best Product Innovation” category in the 2012 ICIS Innovation Awards. INFUSE™ Olefin Block Copolymers (OBCs) were chosen for their unique block architecture, which allows for new combinations of property performance for olefin-based elastomers.
“In 2012, Dow Elastomers took significant steps to accelerate its market presence and innovation, culminating in another record-setting year fiscally while at the same time exceeding our customers’ expectations,” said Dr. Mink. “With the investments and strides made in 2012, we are confident of continued success for Dow Elastomers in 2013 and beyond.”
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2011, Dow had annual sales of $60 billion and employed approximately 52,000 people worldwide. The Company's more than 5,000 products are manufactured at 197 sites in 36 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
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