Dow Chemical forecast better-than-expected revenue for the current quarter and said it would expand four key consumer businesses, which will be part of a new firm created after its proposed merger with DuPont.
Dow and DuPont plan to merge and then break up into three independent publicly traded companies, with the first spinoff being called “Material Science”.
Dow will expand in the packaging, infrastructure, transportation and consumer care markets, Chief Executive Officer Andrew Liveris said on a post-earning call on Thursday, adding that 90 percent of the Material Science company’s revenue would be “aligned” to these end-markets.
DuPont said on Tuesday it expected its deal with Dow to close in August, after repeated delays due to strict regulatory scrutiny.
The merger was approved by EU antitrust regulators last month on the condition the companies divest assets and research and development facilities.
Regulators in the United States, Brazil, China, Australia and Canada are yet to clear the deal.
Full Content: Bloomberg
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