USA: Merger Transaction Dowdupont Announce Brand Names for Three New Companies
Dowdupont announced the corporate brand names of the three companies it intends to establish in order to separate its divisions into independent entities. While certain product names will change at separation, many products within each intended company will continue be sold under their current brand names.
Midland/USA — Andrew Liveris, executive chairman of Dowdupont said that the group is currently focused on unlocking enhanced cost and growth synergies, delivering on their growth investments and innovation pipeline, and separating into three companies on the accelerated timelines they recently announced.
The intended Agriculture company, headquartered in Wilmington, Delaware, will assume the name Corteva Agriscience, which is based on a combination of words meaning “heart” and “nature.” With more than $ 14 billion in 2017 pro forma revenue and $ 2.6 billion in 2017 pro forma operating EBITDA, the Agriculture Division has a comprehensive seed and crop protection portfolio and a strong pipeline of new products.
While Corteva Agriscience will be the corporate brand name upon the separation of the division from Dowdupont, the company will continue to offer products under a number of brands such as Pioneer, Mycogen, the newly launched Brevant Seeds, and its Crop Protection products, such as Aproach Prima fungicide and Quelex herbicide with Arylex active, as well as others it will introduce as it brings new products to market.
With respect to the intended Materials Science company, based in Midland, Michigan, Jim Fitterling, chief operating officer, Materials Science Division of Dowdupont said that the red Dow diamond will remain the company logo in future.
With nearly $ 44 billion in 2017 pro forma revenue and $ 9.1 billion in 2017 pro forma operating EBITDA, the Materials Science Division is a premier materials science solution provider, leveraging its integration and innovation strengths to focus on three high-growth market verticals — packaging, infrastructure and consumer care.
The intended Specialty Products company, headquartered in Wilmington, Delaware, will become the new Dupont, reflecting its technology-driven specialty businesses with differentiated products and solutions. The intended Speciality Products company has $ 21 billion in 2017 pro forma revenue and $ 5.3 billion in 2017 pro forma operating EBITDA.
Additional brand development work for the intended Materials Science company and the intended Specialty Products company is ongoing.
As announced earlier this month, Materials Science is anticipated to separate by the end of the first quarter of 2019, and Agriculture and Specialty Products are expected to separate by June 1, 2019.