- Acquisition of Circulus will add capacity of 50,000
metric tons of recycled materials annually to advance
progress towards Dow's 2030 Transform the Waste goal
MIDLAND,
Mich., June 20, 2024 /PRNewswire/ -- Today,
Dow (NYSE: DOW) announced it has signed an agreement to
acquire Circulus, a leading recycler of plastic waste into
post-consumer resin (PCR). This transaction includes two
facilities, one in Ardmore,
Oklahoma, and another in Arab,
Alabama, with a total capacity of 50,000 metric tons per
year. Dow expects the transaction to close in the third quarter of
2024, subject to customary regulatory approval.
"This acquisition will allow Dow to combine our Company's
industry leading materials science technology with Circulus' film
recycling expertise to accelerate progress towards our 2030
Transform the Waste goal," said Karen S.
Carter, president, Packaging & Specialty Plastics.
"It will also expand how we participate in the industry, allowing
us to generate value for our customers by directly producing more
higher performing circular products that brands and consumers are
demanding."
Dow's expertise in materials science and high-performance resins
combined with Circulus' mechanical film recycling capability will
allow Dow to enhance its offerings in applications, such as
collation shrink packaging, stretch film, liners and select food
packaging, to a wider range of applications in the industrial,
consumer, and transportation markets.
"The Circulus team is excited to move forward with Dow in
advancing a circular economy. Circulus leverages the best
technology available to advance the recycling of plastic packaging
waste," said Mike Dulin, CEO,
Circulus. "Our leadership team brings more than 65 years of
combined experience in the recycling and plastics industries,
resulting in high quality and sustainably produced resins, suitable
for upcycled applications."
This transaction supports Dow's efforts, announced earlier, to
transform plastic waste and other forms of alternative
feedstocks into 3 million metric tons of circular and renewable
solutions annually by 2030. To do this, Dow is building industrial
ecosystems to collect, reuse or recycle waste and expand its
portfolio to meet rapidly growing demand.
About Dow
Dow (NYSE: DOW) is one of the world's
leading materials science companies, serving customers in
high-growth markets such as packaging, infrastructure, mobility and
consumer applications. Our global breadth, asset integration and
scale, focused innovation, leading business positions and
commitment to sustainability enable us to achieve profitable growth
and help deliver a sustainable future. We operate manufacturing
sites in 31 countries and employ approximately 35,900 people. Dow
delivered sales of approximately $45
billion in 2023. References to Dow or the Company mean Dow
Inc. and its subsidiaries. Learn more about us and our ambition to
be the most innovative, customer-centric, inclusive and sustainable
materials science company in the world by
visiting www.dow.com.
For further information, please contact:
Mary Fournier
Dow
+1 989-636-7475
mkfournier@dow.com
X: https://twitter.com/DowNewsroom
Facebook: https://www.facebook.com/dow/
LinkedIn: http://www.linkedin.com/company/dow-chemical
Instagram: http://instagram.com/dow_official
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SOURCE The Dow Chemical Company