Dow Inc - DOW STOCK NEWS

Dow (NYSE:DOW) announced four leaders recognized in the 2024 Outstanding Role Model Lists supported by YouTube, showcasing their contributions to LGBTQ+ inclusion. The honorees include:

- Javier Constante, former President of Latin America, recognized on the Executives Role Model List
- Amy Wilson, General Counsel (#4 on Advocates Role Model List)
- Elizabeth Firestone, Associate Research Scientist (#9 on Future Leaders List)
- Erica Everett, Global Autonomous Vehicles Platform Leader

Additionally, Louis A. Vega, President of Dow North America, was inducted into the INvolve Hall of Fame in 2024 for his LGBTQ+ advocacy work. The recognition reflects Dow's commitment to fostering an inclusive culture that drives innovation and business growth.

Macquarie Asset Management has entered into an agreement to acquire a 40% equity stake in select Dow U.S. Gulf Coast infrastructure assets, forming Diamond Infrastructure Solutions. The partnership will manage non-product producing assets at five Dow manufacturing sites in Texas and Louisiana, including power and steam production, pipelines, and environmental operations.

Dow expects to receive initial cash proceeds of approximately $2.4 billion for the 40% stake, with potential proceeds up to $3.0 billion if Macquarie exercises its option to increase its stake to 49% within six months of closing. The transaction is expected to close in the first half of 2025, subject to regulatory approvals.

Dow (NYSE: DOW) has announced a strategic partnership with Macquarie Asset Management to create Diamond Infrastructure Solutions, selling a 40% equity stake in select U.S. Gulf Coast infrastructure assets. The deal is expected to generate initial cash proceeds of $2.4 billion, with potential to reach $3.0 billion if Macquarie exercises its option to increase its stake to 49% within six months of closing.

The partnership encompasses non-product producing assets at five manufacturing sites in Texas and Louisiana, including power and steam production, pipelines, environmental operations, and general site infrastructure. Dow will maintain majority control to ensure operational continuity. The transaction is expected to close in the first half of 2025, subject to regulatory approvals.

Dow has launched a Materials Recovery Facility (MRF) in Rayong Province, Thailand, marking the country's first community-owned enterprise for high-quality plastic waste recovery. The facility, opened in 2023, aims to prevent over 1,000 tons of plastics and materials from entering landfills annually and reduce greenhouse gas emissions by 2,400 tons of CO2eq per year.

The initiative, funded through Dow's Business Impact Fund and the Thai government, focuses on waste management, plastic packaging recovery, and material transformation. The project has created four full-time jobs and provides income opportunities for local communities through recyclable waste sales and upcycled products. The MRF involves collaboration with multiple Thai partners, including the Thailand Institute of Scientific and Technological Research, Plastics Institute of Thailand, and local government bodies.

Dow (NYSE: DOW) announced key leadership changes following Karen S. Carter's appointment as Chief Operating Officer. Keith Cleason has been named president of Dow's Packaging & Specialty Plastics (P&SP) operating segment, succeeding Carter. Jane Palmieri, president of Industrial Intermediates & Infrastructure, will retire effective March 31, 2025, after 30+ years with the company, where she managed portfolios exceeding $16 billion in annual sales. Marco ten Bruggencate will succeed Palmieri as president of Industrial Intermediates & Infrastructure, while also overseeing EMEAI operations.

Cleason, previously business vice president for Olefins, Aromatics & Alternatives and Univation Technologies, will oversee Latin America operations. He joined Dow in 2001 and has held various senior positions in polyethylene and specialty plastics divisions.

Dow (NYSE: DOW) has appointed Karen S. Carter as Chief Operating Officer, effective immediately. Previously serving as president of Dow Packaging & Specialty Plastics, Carter will oversee business operating segments, including Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings. She will also manage Integrated Supply Chain, Purchasing, Information Systems, and Commercial organizations. With over 30 years at Dow, Carter most recently led the Packaging & Specialty Plastics segment, generating more than $23 billion in annual sales. Under her leadership, she expanded capacity through asset upgrades and spearheaded circular economy initiatives, including the launch of REVOLOOP™ Recycled Plastic Resins and INNATE™ Precision Packaging Resins.

Dow (NYSE: DOW) has completed the sale of its flexible packaging laminating adhesives business to Arkema for $150 million. The transaction includes five manufacturing facilities across Italy, the United States, and Mexico, encompassing Solvent-Based and Solventless Laminating Adhesives and Heat Seal Coating product portfolios. The proceeds will support Dow's capital allocation priorities and growth strategies. Dow retains its water-based laminating adhesives, acrylic adhesives, and adhesive solutions businesses. This divestiture, along with the recent Circulus acquisition, demonstrates Dow's commitment to portfolio alignment with growth strategy and circularity platforms.

Dow announced that Chief Financial Officer Jeff Tate will participate in a fireside chat at Citi's 2024 Basic Materials Conference. The event is scheduled for Tuesday, December 3 at 10:15 a.m. ET. Investors can access the live webcast through Dow's website, with a replay and transcript available after the event.

Dow and Ambipar have signed a Memorandum of Understanding to transform Brazil's plastic recycling market. The partnership aims to increase polyethylene recycling operations from 2,000 to 60,000 tons per year by 2030. The five-year phased approach includes building new Mechanical Recycling facilities to transform 80,000 tons of plastic waste into approximately 60,000 tons of post-consumer resin annually. The alliance will develop Brazil's first integrated center for polyethylene plastics circular economy, focusing on converting post-consumer waste into new products.