Dow Chairman and CEO Andrew Liveris Receives the 2015 ICIS Kavaler Award
The distinguishing feature of this award is that the winner is selected by his/her peers in the ICIS Top 40 Power Players listing, a global ranking of the leaders making the greatest impact in the chemical industry.
The award was presented by ICIS and The Chemists’ Club at a black-tie dinner ceremony with approximately 300 attendees on October 27 at the New York Public Library, Stephen A. Schwarzman Building.
“I am proud to accept this honor on behalf of all Dow people who work every day to create lasting value for our owners, our customers and all of our stakeholders,” said Liveris at the New York Dinner.
“Under Mr. Liveris’ leadership, Dow is making investments in strategically-aligned projects in the U.S. and the Kingdom of Saudi Arabia to drive growth long-term, while shifting its portfolio towards high performance end-markets by divesting non-core assets. The divestment of Dow’s chlorine and derivatives business – in a tax advantaged structure with Olin Corporation – was a seminal deal for Dow, creating $5 billion in post-tax value and cutting exposure to certain commodities,” said Joseph Chang, global editor of ICIS Chemical Business.
Sadara Chemical Company, a joint venture between Dow and Saudi Aramco in Saudi Arabia, is the largest integrated chemical project in history, and will start up in stages later in 2015 and through 2016. On the U.S. Gulf Coast, Dow is in the process of starting up its propane dehydrogenation (PDH) plant, and plans to complete its world-scale cracker and derivatives project by 2017.
Additional moves under way include optimizing ownership in Kuwaiti joint ventures and evaluating opportunities for its Dow AgroSciences business to further unlock value and streamline Dow’s portfolio.
In the award selection process, ICIS and The Chemists’ Club invited each of the ICIS Top 40 Power Players for 2014 to vote for three individuals in a ballot, based on newsworthy achievements in one or more of the following categories: profitability/shareholder value, mergers and acquisitions (deals or integration), projects/capital investment and innovation – technology, product, business process with an impact on industry and society.
The award also honors Arthur Kavaler, who served for 46 years as reporter, editor and eventually publisher of Chemical Market Reporter – one of the three publications incorporated into ICIS Chemical Business. Kavaler, a probing editor with unwavering conviction, passed away at the age of 91 on January 18, 2012.
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from the intersection of chemical, physical and biological sciences to help address many of the world's most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. Dow's integrated, market-driven, 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 180 countries and in high-growth sectors such as packaging, electronics, water, coatings and agriculture. In 2014, Dow had annual sales of more than $58 billion and employed approximately 53,000 people worldwide. The Company's more than 6,000 product families are manufactured at 201 sites in 35 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.
ICIS Chemical Business is part of ICIS. ICIS is the world's largest petrochemical market information provider and has fast-growing energy and fertilizer divisions. Our aim is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience in providing pricing information, news, analysis and consulting to buyers, sellers and analysts. With a global staff of more than 800, ICIS has employees based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Karlsruhe, Milan, Barcelona, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth. ICIS is a division of Reed Business Information. Subscribe to ICIS Chemical Business at http://www.icis-subs.com.
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About The Chemists' Club
Founded in 1898, the Chemists' Club's mission is both professional and social. As a nonprofit 501(c)3 educational organization, it provides networking opportunities for members to mix and meet with others who share interests in chemical, paper, pharmaceuticals, metals, biotech, and similar industries. The Club is also working to introduce local college students to the range of career opportunities available in the chemical industry today. Members include chemists, chemical industry management, formulators, security analysts, attorneys, educators, and other professions. For more information about the Chemists's Club, please go to http://www.thechemistsclub.com.
About The Valence Group
The Valence Group is a specialist investment bank offering M&A advisory services exclusively to companies and investors in the chemicals, materials and related sectors. The Valence Group team includes a unique combination of professionals with backgrounds in investment banking and strategic consulting within the chemicals and materials industries, all focused exclusively on providing M&A advisory services to the chemicals and materials sector. The firm's offices are located in New York and London. http://www.valencegroup.com.
For further information contact:
The Dow Chemical Company
ICIS Chemical Business
The Chemists’ Club
The Valence Group