Midland’s DowDuPont yesterday announced the corporate brand names that each of its divisions plans to assume once they are separated as independent companies. Many product names will remain unchanged.
“Our selection of these company names is a major milestone in the process of creating three strong, independent companies, and each name reflects the unique strengths and value proposition of the company it will represent,” says Ed Breen, CEO of DowDuPont. “As we move forward, a critical part of our work will be to build and strengthen the global corporate brands that express the commitment we are making to our customers, employees, investors, and all of our stakeholders, to grow value through innovation.”
The intended agriculture company, currently the agriculture division, will be Corteva Agriscience and will be headquartered in Wilmington, Delaware. Corteva is a combination of words meaning “heart” and “nature.”
“In Corteva Agriscience, we bring together three businesses with deep connections and dedication to generations of farmers,” says James C. Collins Jr., COO of the Agriculture Division. “Our new name reflects our commitment to enhancing their productivity as well as the health and well-being of the consumers they serve. Our name reflects our purpose: enriching the lives of those who produce and those who consume, ensuring progress for generations to come. … We are creating a new agriculture company that will work together with the entire food ecosystem to produce a secure supply of healthy food sustainably and efficiently.”
The division had more than $14 billion in pro forma revenue in 2017 and $2.6 billion in pro forma operating EBITDA in 2017.
The intended materials science company, based in Midland, will keep the Dow name.
“The Dow name and the Dow diamond have an extremely strong foundation from which we will grow and serve our customers,” says Jim Fitterling, COO of the materials science division of DowDuPont.
The division had nearly $44 billion in pro forma revenue in 2017 and $9.1 billion in pro forma operating EBITDA in 2017.
The intended specialty products company, headquartered in Wilmington, Delaware, will become the new DuPont.
“For more than 200 years, customers have looked to DuPont to help them turn their best ideas into real-world products,” says Marc Doyle, COO of the specialty products division. “We are creating a premier innovation-driven specialty leader, drawing on expertise and assets from both heritage Dow and DuPont, which delivers the essential advances that our customers — and the world — need to thrive. We are deeply proud to have this company carry the DuPont name into the future.”
The division had $21 billion in pro forma revenue in 2017 and $5.3 billion in pro forma operating EBITDA in 2017.
Additional brand development for the intended materials science company and the intended specialty products company is ongoing. 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.
DowDuPont is a holding company comprised of The Dow Chemical Company and DuPont.