Dow Chemical (DOW) May Look to Australia for Growth; CEO Liveris Mulls Retirement Timeline
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Dow Chemical (NYSE: DOW) is looking to the outback for future growth options.
According to The Australian, Dow CEO Andrew Liveris has Australia on his radar as a potential market for Dow. The executive noted that the company's recent exit of its chlorine business and lower global energy prices have put the company in a strong position.
Liveris commented to The Australian, Dow’s capital expenditure cycle will be reaching a peak this year ... Beyond 2017 our cashflow forecasts suggest we will be looking for more investments. We are a company that is growing organically. We are at record profits, record cash flows, record numbers of patents, record new products, but we are restless for growth ... We have a tremendous amount of investment opportunities in front of us that we are prioritizing ... One of the reasons that I come to Australia is to see if Australia can be one of those.
Liveris also alluded to retirement. At 61, he noted that he still has a lot of energy, but succession is an important part of the job and very important to the company as a whole. Liveris said he might consider retirement within the next two years.
Shares of DOW are flat in early trading Wednesday.
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