Construction Giants Complete Mega Merger as DowDuPont

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Construction Giants Complete Mega Merger as DowDuPont

DuPont, the fourth largest chemical company has announced the successful completion of its £131bn merger with the Dow Chemical Company, to create DowDuPont.

A DuPont spokesperson said, “The transaction is an extraordinary opportunity to deliver long-term, sustainable shareholder value through the combination of two highly complementary global leaders.

“During the next few months, we will work diligently to put the new organization in place.”

The new company has said that there will be no immediate change in the way business is transacted with either business, and that suppliers and customers should continue to work with existing procurement contacts. In practical terms, all legal entity names, mailing addresses, tax ID numbers and VAT numbers, remit-to information, invoice, bank account and payment information also are unchanged at this time.

DowDuPont has signalled that, as a dominant force in the chemical industry, the company will be reviewing its supplier contracts and expecting further economies of scale.

It stated that as the integration process progresses, the new business plans to launch a series of strategic sourcing initiatives to evaluate current supplier relationships.

“To achieve our cost targets, we need the collaboration of all of our key business partners, and given the increased volume, our business partners will be poised to share in the benefits of working with DowDuPont,” the company stated.

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