(ATR) Dow tells Around the Rings it will remain a TOP sponsor of the Olympics as the firm merges with DuPont.
"The Dow Chemical Company remains the Official Chemistry Company and a Worldwide Partner of the Olympic Games," a Dow spokesperson tells ATR.
The two companies agreed to a merger of equals on Dec. 11, proposing the creation of DowDuPont. The new company will eventually split into three separate entities specializing in agriculture, material sciences and specialty products.
"This transaction is a game-changer for our industry and reflects the culmination of a vision we have had for more than a decade to bring together these two powerful innovation and material science leaders," said Andrew N. Liveris, Dow’s chairman and chief executive officer.
Liveris is known for his strong support of the Olympic Movement, one of the primary reasons the sponsorship deal was signed with the IOC in 2010. The deal is set to run through the Tokyo 2020 Games.
When asked by ATR how the future division of the merged company might affect the sponsorship, Dow did not provide comment. It is likely too early to tell if one of the three companies would maintain the Olympic partnership.
The proposed merger will be finalized in the second half of 2016 barring any regulatory setbacks. Dow says the merger will not affect the Rio 2016 Games next August.
"We are preparing for Rio 2016," Dow tells ATR.
The merged DowDuPont will likely make its first appearance as an Olympic sponsor at the PyeongChang 2018 Winter Olympics.
Written by KevinNutley
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