Dow Chemical and DuPont are merging in a business transaction which could have lasting effects on local jobs.
According to a press release provided by Dow, the merger will combine the two companies into a single company called DowDuPont.
Advertisements
As soon as possible, the company will split into three separate spin off companies, focusing on different aspects including a leading global pure-play Agriculture company; a leading global pure-play Material Science company; and a leading technology and innovation-driven Specialty Products company.
It isn’t clear how this would impact jobs of the approximately 300 people employed by Dow Chemical in Bristol Township, where the company manufactures ingredients used in paints, paper coatings, floor polishes, adhesives, roof coatings and caulks.
Shareholders will own 50 percent of what they owned of the company, roughly, according to the press release.
Advertisements
The companies are expecting $1 billion in growth synergies, and the combined market capitalization will be approximately $130 billion at announcement.
Correction: The plant is located entirely in Bristol Township and not Bristol Borough.
