Today Dow will close the sale of its rail infrastructure assets at six North American sites; transaction to close three months earlier than planned and demonstrates best-owner mindset and continued evaluation of non-revenue-generating assets across its global portfolio
Dow Inc. (NYSE: DOW) today outlined the series of actions it will take to achieve previously announced structural cost improvement targets and further enhance its long-term competitiveness as the global economy recovers from the coronavirus pandemic.
As announced during the Company’s second quarter earnings on July 23, 2020, Dow is implementing a restructuring program to reduce its global workforce costs by approximately six percent and to rationalize certain manufacturing assets. These actions are expected to result in total annualized EBITDA savings of more than $300 million by the end of 2021.
Manufacturing asset impacts include:
Industrial Intermediates & Infrastructure will rationalize its asset footprint by shutting down certain amines and solvents facilities