DuPont, Dow on verge of merger - The Buffalo News

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DuPont, Dow on verge of merger

DuPont and Dow Chemical are set to complete their mega-merger Thursday, after the close of trading on the stock market.

The combined company, called DowDuPont, will include DuPont's Yerkes plant in the Town of Tonawanda. The site produces Corian, a material used in tabletops and other applications, and Tedlar, a thin film used in products like solar panels.

Daniel Turner, a DuPont spokesman, said the merger will have "no immediate impact" on the Tonawanda plant.

"The site will be operating business as usual," Turner said.

Starting Friday, DowDuPont will trade under the ticker symbol DWDP. DuPont and Dow shareholders will each own about 50 percent of the combined company.

While the Dow-DuPont merger is a milestone, more changes resulting from the two companies' combination are on the horizon. In about 18 months, plans call for creating three independent spinoff companies. The production units at the Yerkes plant are expected to become part of one of those companies, Specialty Products, once it is established.

Meanwhile, talks continue on a new labor contract at the Yerkes plant. Gary Guralny, president of United Steelworkers of America Local 6992, said the two sides have traded proposals via email and are scheduled to hold all-day bargaining sessions on Tuesday and Wednesday. The Steelworkers local represents more than 320 hourly workers at the plant.

Plant manager Warren Hoy was not immediately available for comment, but he has previously said he did not expect the merger to have an impact on the talks.

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