MIDLAND, Mich. — The Dow Chemical Company has announced a series of actions to further streamline the organization and optimize its footprint as a result of the company’s pending separation of a significant portion of its chlorine value chain.
Dow has shifted its portfolio toward targeted, integrated high-value markets, and as a result is taking additional actions to further enhance its organizational effectiveness–with a focus on driving geographic market engagement coupled with global efficiency–to deliver maximum value from its growth investments.
The actions will further accelerate Dow’s value growth and productivity targets, and will result in a reduction of approximately 1,500 to 1,750 positions, or approximately 3 percent of the global workforce. In parallel, the company is also announcing additional minor adjustments to its asset footprint to enhance competitiveness.
In parallel, minor asset footprint adjustments will be made to select manufacturing facilities. The facilities impacted represent less than 1 % of the company’s net property value and include minor consolidation and shut downs in response to changing market dynamics and to position the relevant businesses for long-term growth.
The company will involve local stakeholders as defined in each country and in compliance with relevant information and consultation processes.
Statement From The Dow Chemical Co.
As a business unit of The Dow Chemical Company, Dow AgroSciences is always evaluating its resource needs based on current dynamics in the global agricultural industry and the business’ and short- and long-term strategies. The long-term growth strategy of Dow AgroSciences has not changed. The business remains fully committed to its innovation and growth agenda and continues to gain traction from the launch of new products. As mentioned during Dow’s first quarter earnings call, demand for new Dow AgroSciences products was up 7 percent, demonstrating the business’ focus and confidence in delivering key technology platforms that will expand margins and grow the bottom line.
Source: Dow Chemical Co.
Click here to read the full article.