The hottest Dow Chemical denies selling Dow Yinong
2022-10-14- Detail
Dow Chemical denied the sale of Dow Yinong, saying that the fund was OK
according to foreign reports, Li Weicheng, chairman and CEO of Dow Chemical, once said that in order to raise acquisition funds, Dow did not rule out the possibility of selling any business. The company plans to raise about $4billion through the sale of assets, of which at least $1.5 billion will come from the sale of Rohm Haas' Morton salt division. In addition, the company will also issue $4.3 billion in corporate bonds and cut costs by $400million through further layoffs and other measures
recently, it was reported in the market that Dow had to sell Dow Yinong, which is known as the most successful agricultural technology unit, in order to solve the debt problem. On June 23, some domestic media also broke the news that Sinochem action group may consider participating in the bidding of Dow Yinong as one of the main ways for modern people to travel. Wang Xiaolan denied this, saying that he had not received the company's formal notice in this regard
Wang Xiaolan said that now Dow's investment rating remains at the previous level, and the company's cash flow is no problem
according to the data provided by Dow, in the first quarter of this year, due to the rapid adoption of measures to reduce operating costs, Dow's expenditure fell by US $270Million year-on-year and month on month. Capital expenditure decreased by 35% in the first quarter, which is in line with the company's commitment to a capital expenditure of $1.1 billion in 2009 (it is better not to deform or break the acquisition expenditure). In the first quarter, Dow achieved earnings per share of US $0.03 and earnings per share of US $0.12 after deducting specific items. The performance of Dow Yinong was more outstanding. Its sales revenue and EBIT both set quarterly records, with sales revenue increasing by 10% year-on-year and sales volume also increasing by 10% year-on-year
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