Dow Completes Divestiture of Ownership in TRN Refinery for Approximately $800 Million

MIDLAND, Mich., Sept. 1  /PRNewswire-FirstCall/ -- The Dow Chemical Company (NYSE:DOW) has completed the sale of its interests in Total Raffinaderij Nederland N.V. (TRN) to Total S.A. for an enterprise value of approximately $800 million, including inventory.

TRN is a crude oil refinery located in the Zeeland region of The Netherlands on the river Scheldt. The transaction received regulatory approvals last month.

"We are very pleased to announce the completion of this transaction," said Andrew N. Liveris, chairman and chief executive officer. "This is yet another proof point of our commitment to divest non-core assets and deleverage our balance sheet."

Dow's divestiture of TRN is consistent with the company's plan to increase its financial flexibility, improve its cash flow, and pay down debt.

About The Dow Chemical Company

Dow is a diversified chemical company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress. The Company delivers a broad range of products and services to customers in approximately 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. In 2008, Dow had annual sales of $57.5 billion and employed approximately 46,000 people worldwide. The Company has 150 manufacturing sites in 35 countries and produces approximately 3,300 products. On April 1, 2009, Dow acquired Rohm and Haas Company, a global specialty materials company with sales of $10 billion in 2008, 98 manufacturing sites in 30 countries and approximately 15,000 employees worldwide. More information about Dow can be found at http://www.dow.com/.

Note: The statements contained in this document involve risks and uncertainties that may affect the Company's operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the Company's expectations will be realized. The Company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws. 

DATASOURCE: The Dow Chemical Company



CONTACT:  Bob Plishka of The Dow Chemical Company, [phone]



Web Site:  http://www.dow.com/ 

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