2019 starts the countdown for the three-way split of a major Michigan company.
The chemical industry mega giant DowDupont was created by the August 2017 merger of the two companies. But the merger was always planned to be brief.
The company is on track to divide into three companies by the end of the second quarter of 2019. Midland-based Dow is primarily going to be getting the basic chemicals production.
Seth Goldstein is an analyst with Morningstar.
He isn’t ruling out more cost cutting by the three smaller firms, but he says the “lowest hanging fruit” in terms of layoffs and plant closures has already been done.
“I wouldn’t expect a massive, massive overhaul is left to be done,” says Goldstein. “But I wouldn’t be surprised if there were a few more facilities closures in the works for all three companies.”
