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Dow Chemical is a provider of plastics, chemicals, and agricultural products with presence in more than 175 countries and employing 46,000 people worldwide. It spends more than $1 billion annual expenditure in R&D. Its stated mission under the current CEO, Andrew N. Liveris, is: "To passionately innovate what is essential to human progress by providing sustainable solutions to our customers" with the vision: "To be the most profitable and respected science-driven chemical company in the world". The company was founded in 1897 by Canadian-born chemist Herbert Henry Dow, who had invented a new method of extracting the bromine that was trapped underground in brine at Midland, Michigan. While at first the company sold only bleach and potassium bromide, Dow today has seven major operating segments, with a wide variety of products offered by each. The company's 2005 sales totaled $46.3 billion, with a net income of $4.5 billion. Traded on the New York Stock Exchange, as of 2005 Dow has about 105,000 shareholders of record. Dow has been called the "Chemical companies' Chemical company" in that most of their product is sold to other manufacturers rather than to end users. At varying points in time Dow has sold directly to customers, primarily in the Human and Animal Health markets as well as Consumer Products. Dow Chemical is a member of the American Chemistry Council. |
