Liveris: Dow focusing on innovation, operational excellence
Post date: May 10, 2013 7:21:19 AM
The Dow Chemical Co. is focusing on innovation and operational excellence to create value for the company, Dow Chairman and CEO Andrew Liveris told stockholders today at the company’s annual meeting.
Dow is investing in technologies with the potential to boost returns while meeting customer needs, Liveris said.
“We are applying commercialization metrics to ensure that our R&D investments deliver maximum returns as soon as possible,” he said.
Dow also is focusing on operational excellence, finding efficiencies and integrating supply capabilities with its high-growth businesses. He highlighted investments in Texas and Louisiana that take advantage of new access to shale gas as well as Dow’s investment in Sadara Chemical Co. in Saudi Arabia.
“These are crucial investments for Dow because they can only be made by Dow,” Liveris said. “Your company is unique in its ability to construct projects of this size and this complexity.”
In a tough economy, Dow has delivered earnings results by tightly managing its portfolio, Liveris said. He said Dow will continue to focus on hard work, smart prioritization and a determination to get the job done.
Liveris also mentioned the $2.2 billion payment Dow received from Petrochemicals Industries Co. in Kuwait as a resolution to the failed K-Dow Petrochemicals joint venture. Dow’s priorities for cash in recent years have included strengthening its balance sheet, paying down debt and rewarding shareholders. Liveris said these priorities remain in place.