Dow Advances Market Driven Actions with Acquisition of Univation Technologies, LLC
By Business Wire News
By Business Wire News
The Dow Chemical Company (NYSE: DOW) announced today that it has closed on the acquisition of ExxonMobil Chemical Company’s ownership share of Univation Technologies, LLC, previously a 50/50 joint venture with Dow.
In October 2014, Dow and ExxonMobil announced jointly the signing of a definitive agreement to restructure the ownership of Univation Technologies, LLC. This transaction was a collaborative decision between Dow and ExxonMobil and aligns to Dow’s strategic focus on investing in businesses with strong competitive positions in attractive markets.
“Dow is continually evaluating opportunities to enhance the value created through our joint ventures, including preferentially investing in select, high-growth businesses that grow our participation in targeted end-markets,” said Dow’s Vice Chairman of Business Operations James Fitterling. “Univation Technologies will add significant value to Dow’s plastics portfolio, as the leading technology licensor to the worldwide PE industry.”
Univation Technologies is the licensor of UNIPOL™ PE Process Technology and the leader in the development, manufacture and sales of PE catalysts for the UNIPOL™ PE Process. Univation Technologies will continue to license its UNIPOL™ PE Process Technology, including swing capability for linear low density polyethylene and high density polyethylene. Additionally, Univation Technologies will continue to develop and supply all catalysts, including: UCAT™ Conventional, ACCLAIM™ Advanced Unimodal, XCAT™ Metallocene and PRODIGY™ Bimodal Catalysts.
Univation Technologies will operate as a wholly-owned subsidiary of Dow, led by President Steve Stanley. Univation Technologies will continue to be based in Houston, Texas.
About Univation Technologies
Univation has comprehensive technology programs focused on the UNIPOL™ PE Gas-Phase Process, UCAT™ Conventional Catalysts, XCAT™ Metallocene Catalysts, PRODIGY™ Bimodal HDPE Catalysts and ACCLAIM™ Advanced HDPE Catalysts. UNIVATION, XCAT, PRODIGY, PREMIER, ACCLAIM, Stylized “Univation Technologies,” and the Stylized “U” are registered trademarks (Reg. U.S. Pat. and Tm. Off. and other countries) of Univation Technologies. UNIPOL and UCAT are registered trademarks (Reg. U.S. Pat. and Tm. Off. and other countries) of The Dow Chemical Company (“Dow”) or an affiliated company of Dow, licensed for use to Univation Technologies.
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.
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