Focus - The Dow Chemical Company

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Amerchol provides functional ingredients that improve the performance of shampoos, facial cleansers and body washes by providing enhanced conditioning properties to hair and skin. Al
At Dow, we continue to shape, simplify and align our portfolio to ensure that our businesses set the competitive standard in each of the regions and market segments we serve. Delivering long-term value to our stakeholders requires us to continually align and balance our global business portfolio. Dow is focused on moving beyond the integration of recent mergers and acquisitions to ensure that our organization is ideally suited to serve our target market segments, which range from water purification and food, to transportation and building maintenance and construction. We continue to focus on ensuring that our portfolio is strategically positioned, with the right resources in the right places. This helps us to best meet the needs of the marketplace and to deliver value to our customers. For example, with the integration of Union Carbide’s Amerchol subsidiary, Dow is now a leading supplier of performance specialties to the $120 billion personal care industry on a global basis, providing key functional ingredients for products like conditioning shampoos and body washes. We are committed to being a leader and to setting the competitive standard with both global and local customers. With resources on the ground in all major geographic regions, our business structure allows us to capitalize on the efficiencies of our manufacturing capabilities while still being able to quickly respond to rapidly changing marketplace dynamics. In addition, we are pursuing opportunities to better capture value within growing market segments. One such effort is the recent introduction of the Dowpharma business, which supplies a broad range of technology and manufacturing services to pharmaceutical companies, thereby improving the next generation of life-saving medicines. By capitalizing on Dow’s history of producing pharmaceuticals, and combining the recent acquisition of Ascot Plc with Dow’s historical strengths in manufacturing and R&D, this new business positions Dow as a leader in this rapidly growing $8 billion sector of the pharmaceutical industry. igned Dow’s engineering plastics business recently created two market-facing business groups to better meet the needs of customers in the fast-growing information technology equipment and appliance market segments. The new alignment is helping the business enhance customer loyalty through a better understanding of each segment’s business dynamics, including market drivers, industry trends, product and service needs, and demands from end users. Our strategic global portfolio effectively extends our global reach further than ever. This allows Dow to continue to responsibly expand our presence and enhance our responsiveness in rapidly developing markets. In Southeast Asia, for example, Dow and the OPTIMAL Group of Companies—affiliates of Dow and PETRONAS, the national oil and gas company of Malaysia—recently completed construction and start-up of a world-scale, fully integrated petrochemical facility with state-of-the-art technology and products. The Dow Chemical Company 7 >
Page 1 and 2: The Dow Chemical Company 2002 Annua
Page 3 and 4: 2002 Financial Highlights IN MILLIO
Page 5 and 6: • Continued growth in Asia, where
Page 7: Board of Directors at March 1, 2003
Page 11 and 12: The key to Dow’s success is being
Page 13 and 14: A steadfast and disciplined approac
Page 15 and 16: Dow is working to conserve water at
Page 17 and 18: Living. Improved daily. Corporate S
Page 19 and 20: Fabricated Products business manufa
Page 21 and 22: Polypropylene business, a major glo
Page 23 and 24: 2002 Financial Report Management’
Page 25 and 26: Management’s Discussion and Analy
Page 43 and 44: Consolidated Statements of Income (
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Notes to the Consolidated Financial
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Quarterly Statistics IN MILLIONS, E
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Eleven-Year Summary of Selected Fin
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�Mission To constantly improve wh
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