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The Dow Chemical Company, commonly referred to as
Dow, is an American multinational chemical corporation headquartered in
Midland, Michigan, United States. As of 2007, it is the second-largest chemical
manufacturer in the world by revenue (after BASF) and as of February 2009, the
third-largest chemical company in the world by market capitalization (after
BASF and DuPont).
Dow Chemical is a provider of plastics, chemicals,
and agricultural products with a presence in about 160 countries and employing
about 50,000 people worldwide. 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". Annual R&D spending exceeds $1 billion.
Dow 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 Dow sold
only bleach and potassium bromide, the company today has seven major operating
segments, with a wide variety of products offered by each. Dow's 2005 sales
totaled $46.3 billion, with a net income of $4.5 billion. Dow has been called
the "chemical companies' chemical company" in that most of its sales
are to manufacturers rather than end-users. Dow sells directly to end-users
primarily in the human and animal health and consumer products markets.
