•Right-sizing upstream regional capacity, reducing merchant sale exposure, and removing higher-cost, energy-intensive assets

•Building on April 2025 announcement through actions across the Company's three operating segments to support European profitability

•Asset shutdowns will result in Op. EBITDA uplift beginning in 2026, ramping to 50% of the ~$200 million target by end-2027 and full delivery by 2029

MIDLAND, Mich., July 7, 2025 -- Dow  (NYSE: DOW) announced today that, as a follow-up to the European asset actions first announced in April 2025, its Board of Directors has approved the shutdown of three upstream assets in Europe, in addition to certain corporate and other assets across the Company's global asset footprint:

•Packaging & Specialty Plastics: Ethylene cracker in Böhlen, Germany; shutdown expected in 4Q27

•Industrial Intermediates & Infrastructure: Chlor-alkali & vinyl (CAV) assets in Schkopau, Germany; shutdown expected in 4Q27Performance 

•Materials & Coatings: Basics siloxanes plant in Barry, U.K.; shutdown expected mid-year 2026

The shutdown of upstream assets in Europe will right-size regional capacity, reduce merchant sale exposure, and remove higher-cost, energy-intensive portions of Dow's portfolio in the region. This will improve our ability to supply profitable derivative demand and optimize margins.

"Our industry in Europe continues to face difficult market dynamics, as well as an ongoing challenging cost and demand landscape," said Jim Fitterlingopens in a new tab, Dow chair and CEO. "Over the past decade, we have demonstrated Dow's commitment to operating with a best-owner mindset by taking proactive actions across higher-cost or non-strategic assets. Looking ahead, we remain committed to realizing the value of our incremental growth investments and enhancing profitability and cash flow through more than $6 billion in near-term cash support."

In April 2025, the Company announcedopens in a new tab it had identified three assets in Europe for action across all of its operating segments. On June 30, 2025, Dow's Board of Directors approved restructuring actions to rationalize the Company's global asset footprint, including these three assets as part of its European review, and certain corporate and other assets.

Dow's actions to shut down these assets will result in an Operating EBITDA uplift beginning in 2026, ramping to 50% of the approximate $200 million target by year-end 2027 with full delivery by 2029, with a cash outlay of approximately $500 million over four years.

As a result of these actions, the Company will record charges ranging from $630 million to $790 million, for both non-cash items—such as asset write-downs and write-offs—and cash items, such as exit and disposal of assets, as well as severance and related benefit costs.

The shutdown of the assets is expected to begin in mid-2026 and is estimated to be complete by the end of 2027, with potential decommissioning and demolition to continue into 2029 as needed.

Approximately 800 Dow roles will be impacted as a result of these actions. These roles are in addition to the $1 billion cost savings actions announced in Januaryopens in a new tab that included a workforce reduction of approximately 1,500 Dow roles globally.

Dow will involve local stakeholders as defined in each country and in compliance with relevant information and consultation processes.