Trump Names Dow Chemical CEO Andrew Liveris to Lead Manufacturing Council -- Update

By Michael C. Bender 

GRAND RAPIDS, Mich. -- President-elect Donald J. Trump said Friday he has selected Dow Chemical Co. Chief Executive Andrew Liveris to head a manufacturing council, bringing the head of the Michigan-based company on stage during a campaign-style rally to make the surprise announcement.

The two men showered each other with praise, and Mr. Liveris made his own announcement -- the chemicals and agricultural giant would open a new research and development center in Michigan. The center will include 200 jobs, half of which will be new and the other half that will be "repatriated" from other parts of the globe, the company said in a statement.

"This decision is because of this man and these policies," Mr. Liveris said from the stage of the 6,000-seat Deltaplex Arena here, adding, "I tingle with pride listening to you."

Prior to Friday's announcement, Dow had been shedding thousands of jobs as the company streamlines operations and copes with slowing growth in overseas economies. Dow in May 2015 said it would eliminate about 1,750 positions following a deal to separate much of its chlorine operations, and in February of this year the company said it planned to cut an additional 450 jobs.

In June, Dow said it would lay off a further 2,500 employees, or around 4% of its global workforce, which included the planned shutdown of silicones plants in North Carolina and Japan. The move was part of a cost-saving effort that Dow projected would save $500 million in annual expenses.

Mr. Liveris's announcement was the third time Mr. Trump's election has been cited as a reason to keep jobs in America. Mr. Trump, who campaigned on reversing the loss of U.S. manufacturing jobs, took credit for a decision in November by Ford Motor Co. to keep Lincoln-sport-utility production in Kentucky instead of moving it to Mexico. He also took credit when Carrier Corp. in December agreed to an incentive package to keep about 800 jobs north of the U.S. border.

"We're going to put you all to work," Mr. Liveris told the crowd. "We've got ideas and we've got plans."

Mr. Trump said the details of the manufacturing panel -- he referred to it as the American Manufacturing Council -- would be available next week, when Mr. Liveris announces more members.

We're finding ways to bring industry back to America," Mr. Trump said. "Nobody can do it like Andrew."

Jacob Bunge contributed to this article.

Write to Michael C. Bender at [e-mail]

(END) Dow Jones Newswires

December 10, 2016 00:51 ET (05:51 GMT)

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