DuPont (NYSE:DD) and The Dow Chemical Company (NYSE:DOW) have announced U.S. site selection decisions for the Agriculture company following the planned separation of DowDuPont into three independent, publicly traded companies – Agriculture, Material Science, and Specialty Products.
Dow headquarters (press photo – dow.com)
Agriculture operations across DuPont and Dow totaled roughly $18 billion last year. The corporate headquarters for this merged Agriculture company will be located in Wilmington, DE and will include the office of the CEO and key corporate support functions.
The Specialty Products company will also be headquartered in Wilmington, DE, and the Material Science company will be headquartered in Midland, MI.
The companies also announced the selection of Johnston, IA and Indianapolis, IN as Global Business Centers for the Agriculture company, where they will consolidate leadership of business lines, business support functions, R&D, global supply chain, and sales and marketing capabilities.
Edward D. Breen, chairman and chief executive officer of DuPont, said in a release that “We want to thank the leaders of each state for a highly constructive, cooperative process to achieve the best possible approach that leverages key advantages in each location.”
Andrew N. Liveris, chairman and chief executive officer of Dow, added that “The headquarters location of the Agriculture company being announced as Wilmington, with global business centers in Indiana and Iowa is consistent with the intended headquarters of the Material Science company, to be named Dow, being headquartered in Midland, Michigan, but having global business centers in other U.S. and global locations.”
Delaware Governor Jack Markell said in a release that this announcement is a win for Delaware. “DuPont and Dow made this decision because they recognized that Delaware, with its top quality workforce, access to major cities, and proximity to key global markets, is the ideal location for the headquarters of the globalized, 21st century business that they intend to create,” said Gov. Markell.
Indiana Governor Mike Pence likewise said in a release issued by the Indiana Economic Development Corp (IEDC) that “I’m grateful for the confidence that Dow and DuPont have placed in our people and for the collaboration with city officials that made this exciting announcement possible.”
Indianapolis Mayor Joe Hogsett added that “I am grateful that the merger includes a continued, sustained presence in Indianapolis, and am optimistic about the further growth of DowDuPont in our community.”
State of Indiana and City of Indianapolis officials negotiated with the two companies’ leadership teams over the past several weeks, along with support from Indiana’s congressional delegation.
Tim Hassinger, president and CEO of Dow AgroSciences, noted that “We were impressed by the commitment put forth by the city and state and their focus on maintaining a hub of innovation in Indianapolis… We thank the local, state and federal officials for their efforts in working through this process.”
