Post Wolf acquisition Dow unveils $1-billion Dow Wolff Cellulosics

02 July 2007

Underscoring its transformational growth strategy, The Dow Chemical Company today unveiled the creation of a new specialty business unit operating under the name of Dow Wolff Cellulosics.

It encompasses all activities and interests of what were previously Wolff Walsrode AG and The Dow Chemical Company''s ''water soluble polymers'' business. The newly combined business will encompass cellulosics and related chemistries, providing application formulation expertise and other technical services to a broad range of strategic industry sectors, including construction, paint, personal care, pharmaceuticals, food and a number of specialty industrial applications.

On a pro-forma basis, Dow Wolff Cellulosics had combined revenues of more than $1 billion in 2006 and employed 2,200 people worldwide.

The creation of Dow Wolff Cellulosics establishes a solid platform for sustainable business growth based on renewable raw materials; global manufacturing capabilities; a modern asset base; innovative R&D; specialized market channels; and most importantly, expert people with in-depth application know-how. Together these elements will generate a wealth of new opportunities for customers, as they benefit from leading-edge application and processing technologies, and gain access to an even broader range of customizable products and solutions around the world.

"The creation of Dow Wolff Cellulosics is a carefully planned move to combine know-how, experience and best practice, and create something truly new that is greater than the sum of its parts," stated Martin Sonntag, general manager of Dow Wolff Cellulosics. "We are a new industry leader built on the foundation of two great companies, blending the best traits of our previous entities to create a business with its own identity, culture and capabilities - the future of cellulosics is in our hands."

A Core Business Built on Cellulosics, Application Know-how and Market Knowledge