NCBA Welcomes Updates to Beef Standards

December 6, 2017, Washington DC — NCBA President Craig Uden released the following statement in response to the notice from the United States Department of Agriculture (USDA) that it is revising the United States Standards for Grades of Carcass Beef (beef standards):

“Today’s update to the beef standards will benefit U.S. beef producers in every segment of our industry. By basing carcass quality grades on the most current scientific data available, we will improve grading accuracy and ensure that producers are getting maximum value out of each head. We are grateful to Secretary Perdue and the staff at USDA for implementing this decision, which demonstrates their continued commitment to supporting American cattlemen and women.”

Background

Following a petition led by NCBA, USDA’s Agricultural Marketing Service today announced that dentition and documentation of actual age will now be used as additional methods for classifying maturity of carcasses. The full notice in the Federal Register can be found here.
Dentition is a method for measuring the age of cattle based on their teeth. Cattle with fewer than three incisors are classified as less than 30 months of age (MOA). Three or more incisors indicate cattle are more than 30 MOA.

Prior to the change, a significant portion of cattle under 30 MOA were incorrectly deemed ineligible for USDA quality grades because of limitations in the process used to assess their age. Dentition and/or documentation of actual age provides a more accurate assessment method. Ultimately this will ensure that more carcasses are eligible for USDA quality grades and allow producers to maximize the value of each head. More details can be read in NCBA’s comments on the issue here.

A beef industry working group composed of representatives from the cow-calf, feeder, and packer segments conservatively estimated that incorrect classification of carcasses cost

the industry nearly $60 million annually. Carcasses incorrectly classified were sold at an estimated discount of nearly $275 per head.

Dentition assessments have long been used in U.S. federally inspected plants, with effective USDA Food Safety Inspection Service oversight, to meet the export requirements of many U.S. trading partners.

CA Vineyard Region–Mounting Citizen Evidence of Man-Made Fires

December 1, 2017, Berkeley CA – Dr. Leuren Moret, geoscientist researcher, provides an update on what some suggest are man-made fires surrounding the California Wine Country and beyond.

90% of the Napa/Sonoma/Santa Rosa California fires are out, but 10% are still burning. There has been a catastrophic loss of grapes and vintage. It will take a long time to recover from these man-made disastrous fires.

Not only were lasers and microwave military technologies used (and filmed) to ignite houses and trees from the inside out, but the same exact technologies were documented in Portugal vineyard fires less than a year ago, in Chile in January 2017, and probably Spain 2 years ago.  Mounting citizen evidence videotaping the fires burning has been presented, as well as statements of firefighters and emergency responders, stating that the fires were ignited by directed energy from either helicopters or from space.

US Army Corps of Engineers (USACE) announced that owners of damaged houses and property will not be allowed to remove the cement foundations or rebuild.  USACE would be the only agency with authorization to remove cement foundations of fire-damaged houses.

USDA to Re-engage Stakeholders on Revisions to Biotechnology Regulations

Nov. 6, 2017, WASHINGTON, DC — The U.S. Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) today announced it is withdrawing a proposed rule to revise the Agency’s biotechnology regulations and will re-engage with stakeholders to determine the most effective, science-based approach for regulating the products of modern biotechnology while protecting plant health.

“It’s critical that our regulatory requirements foster public confidence and empower American agriculture while also providing industry with an efficient and transparent review process that doesn’t restrict innovation,” said Secretary Sonny Perdue. “To ensure we effectively balance the two, we need to take a fresh look, explore policy alternatives, and continue the dialogue with all interested stakeholders, both domestic and international.”

APHIS oversees the importation, interstate movement and environmental release of genetically engineered organisms to ensure they do not pose a plant pest risk. This important work will continue as APHIS re-engages with stakeholders.

“Today, we need to feed some 7 billion people. By the year 2050, that population will swell to 9.5 billion, over half of which will be living in under-developed conditions. To put the demand for food into perspective, we are going to have to double our production between now and 2050. We will have to produce more food in the next 30 years than has been produced in the last 8,000 years. Innovations in biotechnology have been helping American farmers produce food more efficiently for more than 20 years, and that framework has been essential to that productivity,” Perdue said. “We know that this technology is evolving every day, and we need regulations and policies that are flexible and adaptable to these innovations to ensure food security for the growing population.”

Congressional Delegation Comments on Agriculture NAFTA Meetings in Ottawa

October 7, 2017, Ottawa, Canada – Today, members of a congressional delegation to Ottawa, Canada focused on agricultural trade offered their comments following meetings with Canadian officials ahead of the next round of North American Free Trade Agreement (NAFTA) negotiations:

“Our goal over the past two days was to ensure our Canadian counterparts understand that U.S. production agriculture has a keen interest in getting NAFTA done and done right. We have had productive conversations over the weekend with Canadian officials and are eager for negotiations to resume in Washington next week. As I’ve said before, U.S. production agriculture will continue to stay at negotiators elbow throughout this process to ensure their interests are taken into account. This is too important to screw up,” said House Agriculture Committee Chairman Mike Conaway (TX-11). 

“The trade relationship between the United States and Canada, especially as it relates to agriculture, plays an integral role in each country’s economy. Spending time with our Canadian counterparts gave us an opportunity to demonstrate the importance of the deal for U.S. agriculture. I look forward to continuing these conversations to improve NAFTA on behalf of our producers and farm families,” said Rep. David Rouzer (NC-7).

“On so many fronts, we enjoy and respect our relationship with our Canadian neighbors; especially on trade. Overall NAFTA has been favorable for trade to both nations. It has created wealth on both sides of the border. My goal as a member of the Ag Committee is to impress the importance of making those areas that work well, better and those areas that need improvement to correct as quickly as possible. The newly renegotiated NAFTA agreement will bolster trade and lead to increased prosperity for both nations,” said Rep. Ted Yoho (FL-3).

“We are meeting with Canadian government officials, diplomats and private sector agricultural leaders to discuss our mutual interest in quickly resolving trade issues so we can promote commerce between our two nations. Canada is our most important trading partner and we need to protect and enhance this relationship. Over 600,000 New York State jobs depend on trade with Canada,” said Rep. John Faso (NY-19).

“Given that Oregon is one of the top ten trading states in the U.S. and the number of jobs dependent on trade, I felt this mission to be very important. Whether it is the Columbia River Treaty, Pacific fishing, softwood lumber, dairy, wheat or wine it is important for our Canadian friends to know that we need a fair deal. It became obvious to me as we ended our visit that both sides will continue to support one another vigorously, but that the Canadians feel no urgency to come to the table in any of the above. A stronger approach is needed,” said Rep. Kurt Schrader (OR-5). 

Goodlatte Unveils Bill to Provide Workable Guestworker Program for American Farmers

To provide American farmers with access to a legal, stable supply of workers, the AG Act creates a new H-2C guestworker program designed to meet the needs of the diverse agricultural industry.

October 2, 2017, Washington DC – Congressman Bob Goodlatte (R-Va.), Chairman of the House Judiciary Committee, unveiled a bill to create a new, workable agricultural guestworker program for America’s farmers and ranchers.

The Agricultural Guestworker Act, or the AG Act, replaces the outdated and broken H-2A guestworker program with a reliable, efficient, and fair program and will be marked up by the House Judiciary Committee on Wednesday, October 4, 2017. The H-2A program is widely known to be expensive, time-consuming, and flawed. Each year, employers using the H-2A program have to comply with a lengthy labor certification process that is slow and plagued with red tape. As a result of complying with H-2A regulations, employers using the program almost always find themselves at a competitive disadvantage in the marketplace.

To provide American farmers with access to a legal, stable supply of workers, the AG Act creates a new H-2C guestworker program designed to meet the needs of the diverse agriculture industry. Under the bill, the guestworker program is administered by the U.S. Department of Agriculture and covers year-round employers, like dairies, aquaculture operations, food processors, and others. Further, the AG Act allows experienced unauthorized agricultural workers to continue working in agriculture and provides more flexibility to American farmers with respect to housing, transportation, and touchback periods. For a full summary of the AG Actclick here and for bill text click here.

Goodlatte said the following on the AG Act:

“For far too long, the broken H-2A guestworker program has buried American farmers in red tape and excessive costs without delivering access to a stable and reliable workforce. It’s clear that the current program is outdated and broken for American farmers, and it’s well past the time to replace it with a reliable, efficient, and fair program that provides American farmers access to a legal, stable supply of workers, both in the short- and long-term, for seasonal as well as year-round work.

“The AG Act replaces the flawed H-2A program with a new, flexible, and market-driven guestworker program that is designed to meet the needs of the diverse agriculture industry when not enough American workers can be found. The new program is to be operated by the USDA, an agency that clearly understands the unique needs of America’s farm and ranch operations and the importance of getting perishable agricultural commodities to the marketplace in an efficient manner, and expands the guestworker program to year-round agricultural employers. I thank the agriculture community for the input they provided on this legislation and look forward to bringing it up in the House Judiciary Committee this week.”

To learn more about the House Judiciary Committee’s work to improve our nation’s immigration laws, click here.

Closing Statement of USTR Robert Lighthizer at the Third Round of NAFTA Renegotiations

Ambassador Lighthizer:

…It is fitting that we have been negotiating here in Ottawa – a city known for its rich history in trade. Canada is celebrating 150 years in 2017, but for thousands of years the Ottawa River Valley has been a center of trade, and the present capital city is now also a center for trade policy. So it’s a special honor to be here in Ottawa.

Here at the close of round three of these negotiations, I join Minister Freeland and Secretary Guajardo in welcoming the progress that was made to this point.

I also join them in thanking the six or seven hundred people from our three governments who have been working of this issue. And I think it’s important for everyone to realize just how big this is. This is hundreds and hundreds of pages of very technical, technical work that covers really almost the entire of all of our economies, in one way or another. And there’s six or seven hundred people working weekends and very long hours to get to where we are, and they are dedicated to continuing until we get to the end of the process.

I also echo my counterparts’ remarks on closing the chapter on Small- and Medium- sized Enterprises. These businesses are the engines that drive each of our economies. They represent great ingenuity and hard work, turning businesses into dreams and into reality. They employ millions of our citizens. And, when they look to trade internationally, they first look to trading in North America.

So it’s very, very important that we completed this chapter.

Additionally, significant progress continues to be made in numerous other areas, including competition policy, digital trade, State Owned Enterprises, sanitary and phytosanitary measures, customs, and telecommunications. But of course, there is an enormous amount of work to be done, including on some very difficult and contentious issues.

We continue to push for ways that will reduce the U.S. trade deficit. We are committed to a substantial renegotiation that reinvigorates U.S. industry and ensures reciprocal market access for American farmers, ranchers, and businesses.

The negotiations are continuing at an unprecedented pace, and the United States looks forward to hosting the next round in Washington, DC in about two weeks.

Minister Freeland, Secretary Guajardo – thank you both for your continued engagement in the NAFTA renegotiation process. I am hoping that our countries are capable of producing a new NAFTA that will fuel economic growth for all of us in North America in the years to come.

Trilateral Statement on the Conclusion of the Third Round of NAFTA Negotiations

Ottawa, Canada – Canadian Foreign Affairs Minister Chrystia Freeland, Mexican Secretary of the Economy Ildefonso Guajardo, and United States Trade Representative Robert Lighthizer today successfully concluded the third round of the renegotiation and modernization of the North American Free Trade Agreement (NAFTA). The round took place in Ottawa, Canada from September 23 to 27, 2017.  Negotiators made significant progress in several areas through the consolidation of text proposals, narrowing gaps and agreeing to elements of the negotiating text.  Negotiators are now working from consolidated texts in most areas, demonstrating a commitment from all parties to advance discussions in the near term. In particular, meaningful advancements were made in the areas of telecommunications, competition policy, digital trade, good regulatory practices, and customs and trade facilitation.  Parties also exchanged initial offers in the area of market access for government procurement.

Importantly, discussions were substantively completed in the area of small and medium-sized enterprises (SMEs), effectively concluding negotiations on that chapter pending specific outcomes in related discussions. The inclusion of a chapter on SMEs in a modernized NAFTA recognizes the contribution that SMEs make to our economies. The chapter will serve to support the growth and development of SMEs by enhancing their ability to participate in and benefit from the opportunities created by this Agreement, including through cooperative activities, information sharing, and the establishment of a NAFTA Trilateral SME Dialogue, involving the private sector, non-government organizations, and other stakeholders.  In addition to a specific chapter on SMEs, negotiators are also working on modernizing other aspects of the agreement that would benefit SMEs, including customs and trade facilitation, digital trade, and good regulatory practices. Discussions also touched upon energy trade, gender and Indigenous peoples.

We also advanced substantively in the competition chapter and expect to conclude the negotiation on this chapter prior to the next round.

NAFTA partners continue to be guided by a shared desire to create jobs, economic growth and opportunity for the people of our countries. Canada, the United States and Mexico remain committed to an accelerated timeline for negotiations. Ministers from all three countries have reiterated the mandate to the Chief Negotiators to continue on an accelerated path. Negotiators will continue their work and consult with their respective stakeholders in preparation for the fourth round of talks in Washington, D.C., from October 11 to 15, 2017.

Wheat Organizations Applaud Trump Administration’s Aggressive Trade Enforcement at the WTO

September 27, 2017, Arlington, VA — U.S. Wheat Associates (USW) and the National Association of Wheat Growers (NAWG) welcome the decision by the Trump Administration to make sure China is living up to its commitments on wheat trade.  In response to action by the Administration, the World Trade Organization (WTO) Dispute Settlement Body has established a panel to rule on a complaint filed in December 2016 by the United States Trade Representative (USTR) regarding China’s administration of its tariff rate quotas (TRQs) for wheat and other agricultural products. USW and NAWG are very pleased with the Trump Administration’s aggressive use of the WTO dispute settlement mechanism on behalf of wheat farmers.

This is the second panel established at the WTO under the Trump Administration to defend the interests of wheat farmers. The first will examine whether China’s market price support programs for wheat, corn, and rice violate its trade commitments. According to a 2016 Iowa State University study sponsored by USW, China’s market price support programs cost U.S. wheat farmers between $650 and $700 million annually in lost revenue by pre-empting export opportunities and suppressing global prices.

China also has a WTO commitment for an annual TRQ of 9.64 million metric tons (MMT) of imported wheat. The panel established Sept. 22, 2017, in the TRQ case will review evidence that China has not administered this TRQ in a transparent, predictable and fair manner as required by its WTO obligations. The result is that China’s TRQ administration unfairly impedes wheat export opportunities for U.S. wheat farmers, as well as farmers from Canada, Australia and other wheat exporting countries, to the detriment of Chinese consumers.

“It is very encouraging to see the Trump Administration defend farmers against governments that say to the world they will live up to their commitments, but then scheme to disregard the rules we all need to ensure global trade is conducted freely and fairly,” said NAWG President David Schemm, a wheat grower from Sharon Springs, Kan. “Wheat growers will always stand up and applaud when the Administration expands, improves and enforces trade agreements on behalf of farmers.”

“Trade enforcement is crucial for building confidence in existing and new trade agreements,” said USW Chairman Mike Miller, a wheat farmer from Ritzville, Wash. “The Trump Administration’s actions should send a signal that strong and enforceable trade rules are vital to the United States and to U.S. farmers, specifically.”

To read more about the dispute panel established in the TRQ case, visit the WTO website  and the USW website.

More information about the market price support case is posted online at https://www.wto.org/english/tratop_e/dispu_e/cases_e/ds511_e.htm and at http://www.uswheat.org/newsRelease/doc/8707CB93926092D98525802D0056551C?Open.

USW’s mission is to “develop, maintain, and expand international markets to enhance the profitability of U.S. wheat producers and their customers.” USW activities in more than 100 countries are made possible through producer checkoff dollars managed by 18 state wheat commissions and cost-share funding provided by USDA’s Foreign Agricultural Service. 

NCGA Calls on EPA to Rescind 2015 WOTUS Rule

September 27, 2017, Washington, D.C. – The National Corn Growers Association today asked the EPA and Army Corps of Engineers to rescind the 2015 “waters of the United States” (WOTUS) rule and write a new rule that provides farmers with clarity and certainty, reduces red tape, and does not discourage farming practices that improve water quality.

“Corn farmers take very seriously the important role we play in helping the country meet its water quality goals, as laid out in state and federal statutes, including the Clean Water Act. We depend on clean water for our livelihood, and we are committed to conservation practices that protect our nation’s streams and rivers,” NCGA President Wesley Spurlock wrote in comments submitted today to the Agencies.

Spurlock called the 2015 rule inconsistent with the aims of the Clean Water Act, and noted that the rule also “has the perverse effect of making it harder for farmers to practice good soil and water conservation, nutrient management, and water quality protection practices.”

Farming practices such as grass waterways and buffer strips reduce sediment and nutrient runoff. Instead of encouraging these types of farming practices, the 2015 rule effectively discouraged them, due to both the bureaucratic red tape, and fear of legal action.

“We support the Administration’s effort to create a new WOTUS rule, and we stand ready to work with them to ensure farmers have the clarity and certainty they need,” said Spurlock.

Cattlemen “Very Pleased” That Tax-Reform Blueprint Includes Death Tax Repeal, Will Fight to Maintain Existing Positive Provisions in Tax Code

Septenber 27, 2017, Washington, DC — Craig Uden, President of the National Cattlemen’s Beef Association, released the following statement in response to the “Unified Framework” for comprehensive tax reform legislation:

“Our Nation’s cattle producers are very pleased that President Trump and Republican leaders in Congress have maintained their long-standing commitment to American agriculture by including a full repeal of the onerous death tax in the Unified Framework for Fixing Our Broken Tax Code. We look forward to working with the Administration and lawmakers on Capitol Hill as pen meets paper on tax legislation, and will continue to demonstrate how the death tax and its associated costs adversely affect family-owned operations and the rural communities they support.

“Also, current provisions in the tax code that help livestock producers maintain economically viable businesses and support the success of future generations of farmers and ranchers must be preserved. Stepped-up basis, cash accounting, like-kind exchanges, cost recovery, and the deductibility of interest payments are just a handful of the provisions that allow agricultural producers to survive despite the many challenges we face, from market volatility and fluctuating input prices, to droughts, wildfires, and floods, to the challenge of generational transfers. We’ll closely monitor these provisions as more details on legislative language become available, and intend to fight tooth and nail for a tax code that supports America’s beef producers.”

DowDuPont™ Merger Successfully Completed

Company Moves Forward Toward Intended Separation into Industry-Leading, Publicly Traded Companies in Agriculture, Materials Science and Specialty Products; Separations Expected to Occur Within 18 Months.

Sept. 1, 2017, MIDLAND, MI and WILMINGTON, DE– DowDuPont™ (NYSE:DWDP) today announced the successful completion of the merger of equals between The Dow Chemical Company (“Dow”) and E.I. du Pont de Nemours & Company (“DuPont”), effective Aug. 31, 2017. The combined entity is operating as a holding company under the name “DowDuPont™” with three divisions – Agriculture, Materials Science and Specialty Products.

Shares of DuPont and Dow ceased trading at the close of the New York Stock Exchange (NYSE) on Aug. 31, 2017. Beginning today, DowDuPont will start trading on the New York Stock Exchange under the stock ticker symbol “DWDP.” Pursuant to the merger agreement, Dow shareholders received a fixed exchange ratio of 1.00 share of DowDuPont for each Dow share, and DuPont shareholders received a fixed exchange ratio of 1.282 shares of DowDuPont for each DuPont share.

“Today marks a significant milestone in the storied histories of our two companies,” said Andrew Liveris, executive chairman of DowDuPont. “We are extremely excited to complete this transformational merger and move forward to create three intended industry-leading, independent, publicly traded companies. While our collective heritage and strength are impressive, the true value of this merger lies in the intended creation of three industry powerhouses that will define their markets and drive growth for the benefit of all stakeholders. Our teams have been working for more than a year on integration planning, and — as of today — we will hit the ground running on executing those plans with an intention to complete the separations as quickly as possible.”

“For shareholders, customers and employees, closing this transaction is a definitive step toward unlocking higher value and greater opportunities through a future built on sustainable growth and innovation,” said Ed Breen, chief executive officer of DowDuPont. “DowDuPont is a launching pad for three intended strong companies that will be better positioned to reinvest in science and innovation, solve our customers’ ever-evolving challenges, and generate long-term returns for our shareholders. With the merger now complete, our focus is on finalizing the organizational structures that will be the foundations of these three intended strong companies and capturing the synergies to unlock value. With clear focus, market visibility and more productive R&D, each intended company will be equipped to compete successfully as an industry leader.”

Board and Governance

The Board of Directors of DowDuPont comprises 16 members – eight directors formerly on the DuPont Board and eight directors formerly on the Dow Board. There are two lead directors: Jeffrey Fettig, who previously served as the lead independent director for Dow; and Alexander Cutler, who previously served as the lead independent director for DuPont. Liveris serves as the executive chairman of the Board and Breen also serves on the Board. Other Board members include:

  • From Dow:
    • James A. Bell, Former Chief Financial Officer, Boeing
    • Raymond J. Milchovich, Former Chairman and CEO, Foster Wheeler AG
    • Paul Polman, CEO, Unilever PLC and Unilever N.V.
    • Dennis H. Reilley, Non-Executive Chairman, Marathon Oil Corp.
    • James M. Ringler, Chairman, Teradata Corporation
    • Ruth G. Shaw, Former Group Executive, Public Policy and President, Duke Nuclear
  • From DuPont:
    • Lamberto Andreotti, Former Chair of the Board and CEO of Bristol-Myers Squibb Company
    • Robert A. Brown, President of Boston University
    • Marillyn A. Hewson, Chairman, President, and Chief Executive Officer of Lockheed Martin Corporation
    • Lois D. Juliber, Former Vice Chairman and Chief Operating Officer of Colgate-Palmolive Company
    • Lee M. Thomas, Former Chairman and Chief Executive Officer of Rayonier Inc.
    • Patrick J. Ward, Chief Financial Officer of Cummins, Inc.

Three Advisory Committees have been established by the DowDuPont Board, chartered to generally oversee the establishment of each of the Agriculture, Materials Science (Dow) and Specialty Products divisions in preparation for the separations. Additionally, each Advisory Committee will develop a capital structure in accordance with the guiding principles set forth in the Bylaws, and designate the future chief executive officer and leadership team of its respective intended company.

DowDuPont Officers

As previously announced, DowDuPont will be led by a proven leadership team that reflects the strengths and capabilities of both companies. Along with Liveris and Breen, it includes the following executives:

  • Howard Ungerleider, Chief Financial Officer
  • Stacy Fox, General Counsel and Corporate Secretary
  • Charles J. Kalil, Special Counsellor to the Executive Chairman, General Counsel for the Materials Science Division
  • James C. Collins, Jr., Chief Operating Officer for the Agriculture Division
  • Jim Fitterling, Chief Operating Officer for the Materials Science Division
  • Marc Doyle, Chief Operating Officer for the Specialty Products Division

Unlocking Value for All Stakeholders

By merging the highly complementary portfolios of Dow and DuPont and subsequently creating intended industry leaders, DowDuPont expects to maximize value for all its stakeholders.

  • Shareholders are expected to benefit from the stronger, focused investment profile of each intended company and substantial cost synergies, as well as from long-term growth and sustainable value creation following the intended separations into three independent companies. The transaction is expected to result in run-rate cost synergies of approximately $3 billion and the potential for approximately $1 billion in growth synergies. The company expects to reach 100 percent run rate on the cost synergies within the first 24 months of merger closing.
  • Customers will benefit from superior solutions and expanded product offerings. By combining the complementary strengths of Dow and DuPont, each intended company will be able to respond faster and more effectively to rapidly changing conditions with innovative products and greater choice.
  • Employees will benefit from being part of these intended highly focused and competitive industry-leaders, built for sustainable, long-term growth – which will create opportunities for our businesses and opportunities for our people.

Paths to Separation

Dow and DuPont leaders and integration teams are developing the future state operating models and organizational designs that will support the refined strategy of each intended company. Once each division has its own processes, people, assets, systems and licenses in place to operate independently from the parent company, DowDuPont intends to separate the divisions to stand within their own legal entities, subject to Board approval and any regulatory approvals. The intended separations are expected to occur within 18 months.

The intended companies are expected to include:

  • A leading Agriculture Company that brings together the strengths of DuPont Pioneer, DuPont Crop Protection and Dow AgroSciences to better serve growers around the world with a superior portfolio of solutions, greater choice and competitive price for value. The combined capabilities and highly productive innovation engine will enable the intended Agriculture Company to bring a broader suite of products to the market faster, so it can be an even better partner to growers, delivering innovation and helping them to increase their productivity and profitability. The intended Agriculture Company will be headquartered in Wilmington, Delaware, with global business centers in Johnston, Iowa, and Indianapolis, Indiana.
  • A leading Materials Science Company, to be named Dow that will consist of the businesses comprising the following current Dow operating segments: Performance Plastics, Performance Materials & Chemicals, Infrastructure Solutions and Consumer Solutions (Consumer Care and Dow Automotive Systems; Dow Electronic Materials is intended to go to the Specialty Products Company), as well as DuPont’s current Performance Materials operating segment. The intended Materials Science Company will offer the strongest and broadest chemistry and polymers toolkit in the industry, with the scale and competitive capabilities to enable truly differentiated solutions for customers in high-growth end markets, including packaging, transportation, infrastructure and consumer care. The intended Materials Science Company will be headquartered in Midland, Michigan.
  • A leading Specialty Products Company that will consist of powerful, market-leading businesses including DuPont Protection Solutions, Sustainable Solutions, Industrial Biosciences and Nutrition & Health, which will integrate the Health and Nutrition business from FMC pending the close of that transaction; as well as Electronic Technologies, which combines DuPont’s Electronics & Communications business with Dow’s Electronic Materials business unit. The intended Specialty Products Company will be an innovation leader composed of technology-driven specialty businesses with highly differentiated products and solutions that transform industries and everyday life. The intended Specialty Products Company will be headquartered in Wilmington, Delaware.

As announced, the DowDuPont Board is conducting a comprehensive portfolio review to assess current business facts and leverage the knowledge gained over the past year and a half to capture any material value-enhancing opportunities in preparation for the intended creation of industry-leading companies.

Klein and Company, Lazard and Morgan Stanley & Co. LLC served as Dow’s financial advisors for the transaction, with Weil, Gotshal & Manges LLP acting as its legal advisor.

Evercore and Goldman, Sachs & Co. served as DuPont’s financial advisors for the transaction, with Skadden, Arps, Slate, Meagher & Flom LLP acting as its legal advisor.

About DowDuPont

DowDuPont (NYSE: DWDP) is a holding company comprised of The Dow Chemical Company and DuPont with the intent to form strong, independent, publicly traded companies in agriculture, materials science and specialty products sectors that will lead their respective industries through productive, science-based innovation to meet the needs of customers and help solve global challenges. For more information, please visit us at www.dow-dupont.com.