[8-K] Cyclacel Pharmaceuticals, Inc. 6% Cnvrtbl. Prfrd. Stock Reports Material Event
Dow Inc. (NYSE: DOW) filed an 8-K announcing Board-approved restructuring actions dated June 30, 2025. The program targets under-performing European upstream assets and selected corporate facilities. Dow will shut down: (1) an ethylene cracker in B枚hlen, Germany (Packaging & Specialty Plastics), (2) chlor-alkali & vinyl assets in Schkopau, Germany (Industrial Intermediates & Infrastructure), and (3) a basic siloxanes plant in Barry, U.K. (Performance Materials & Coatings). Implementation begins mid-2026 with full shutdowns by 4Q27; decommissioning may continue through 2029.
Financial impact
- Total 2Q25 restructuring charge: $630-$790 million.
- Composition: asset write-downs/write-offs $330-$360 million; exit & disposal costs $160-$260 million; severance & benefits $140-$170 million.
- Future cash payments related to these charges: $300-$430 million over four years.
- Additional implementation costs (expensed as incurred): $260-$350 million with cash outlay of $205-$260 million.
- Separate table cites an aggregate cash outlay of ~$500 million for asset shutdowns.
Operational benefits
- Management targets an Operating EBITDA uplift of ~$200 million, reaching 50% by end-2027 and full run-rate by 2029.
- Average annual capex avoidance estimated at ~$60 million.
- Actions aim to 鈥渞ight-size鈥� capacity, reduce merchant sales exposure and eliminate higher-cost, energy-intensive assets, improving European profitability.
Workforce & other considerations
- Approximately 800 positions will be eliminated in addition to the 1,500 roles cut under the January 2025 $1 billion cost-savings plan.
- Potential environmental remediation costs are still under assessment and could trigger further charges.
- Dow will conduct required information and consultation processes with local stakeholders.
Overall, the filing signals a sizable near-term earnings hit and cash commitment, but management projects meaningful medium-term margin improvement and capital efficiency once the shutdowns are complete.
Dow Inc. (NYSE: DOW) ha presentato un modulo 8-K annunciando azioni di ristrutturazione approvate dal Consiglio in data 30 giugno 2025. Il programma interessa asset upstream europei con performance inferiori e alcune strutture aziendali selezionate. Dow chiuder脿: (1) un cracker di etilene a B枚hlen, Germania (Packaging & Specialty Plastics), (2) asset cloro-alcali e vinile a Schkopau, Germania (Industrial Intermediates & Infrastructure), e (3) un impianto base di silossani a Barry, Regno Unito (Performance Materials & Coatings). L鈥檌mplementazione inizier脿 a met脿 2026 con chiusure complete entro il quarto trimestre 2027; il decommissionamento potr脿 proseguire fino al 2029.
Impatto finanziario
- Addebito totale di ristrutturazione nel 2Q25: 630-790 milioni di dollari.
- Composizione: svalutazioni e perdite di asset per 330-360 milioni di dollari; costi di uscita e dismissione per 160-260 milioni di dollari; indennit脿 e benefici per 140-170 milioni di dollari.
- Pagamenti futuri in contanti legati a questi oneri: 300-430 milioni di dollari distribuiti su quattro anni.
- Costi aggiuntivi di implementazione (spesi al momento della loro sostenibilit脿): 260-350 milioni di dollari con esborso in contanti di 205-260 milioni di dollari.
- Una tabella separata indica un esborso complessivo in contanti di circa 500 milioni di dollari per le chiusure degli asset.
Benefici operativi
- La direzione prevede un aumento dell鈥橢BITDA operativo di circa 200 milioni di dollari, raggiungendo il 50% entro fine 2027 e il pieno regime operativo entro il 2029.
- Risparmio medio annuo stimato in capex di circa 60 milioni di dollari.
- Le azioni mirano a "ridimensionare" la capacit脿, ridurre l鈥檈sposizione alle vendite mercantili ed eliminare asset ad alto costo e ad elevato consumo energetico, migliorando la redditivit脿 europea.
Forza lavoro e altre considerazioni
- Circa 800 posizioni saranno eliminate, oltre ai 1.500 tagliati con il piano di risparmio da 1 miliardo di dollari annunciato a gennaio 2025.
- I potenziali costi di bonifica ambientale sono ancora in fase di valutazione e potrebbero generare ulteriori oneri.
- Dow condurr脿 i processi informativi e consultivi richiesti con le parti interessate locali.
In sintesi, la comunicazione segnala un impatto significativo sugli utili e un impegno di cassa nel breve termine, ma la direzione prevede un miglioramento sostanziale dei margini e dell鈥檈fficienza del capitale nel medio termine, una volta completate le chiusure.
Dow Inc. (NYSE: DOW) present贸 un formulario 8-K anunciando acciones de reestructuraci贸n aprobadas por la Junta con fecha 30 de junio de 2025. El programa se enfoca en activos upstream europeos con bajo rendimiento y ciertas instalaciones corporativas seleccionadas. Dow cerrar谩: (1) un cracker de etileno en B枚hlen, Alemania (Packaging & Specialty Plastics), (2) activos de cloro-谩lcali y vinilo en Schkopau, Alemania (Industrial Intermediates & Infrastructure), y (3) una planta b谩sica de siloxanos en Barry, Reino Unido (Performance Materials & Coatings). La implementaci贸n comenzar谩 a mediados de 2026 con cierres completos para el cuarto trimestre de 2027; el desmantelamiento podr铆a continuar hasta 2029.
Impacto financiero
- Cargo total por reestructuraci贸n en 2T25: 630-790 millones de d贸lares.
- Composici贸n: depreciaciones y bajas de activos por 330-360 millones de d贸lares; costos de salida y disposici贸n por 160-260 millones de d贸lares; indemnizaciones y beneficios por 140-170 millones de d贸lares.
- Pagos futuros en efectivo relacionados con estos cargos: 300-430 millones de d贸lares durante cuatro a帽os.
- Costos adicionales de implementaci贸n (gastos a medida que se incurren): 260-350 millones de d贸lares con desembolso en efectivo de 205-260 millones de d贸lares.
- Una tabla separada indica un desembolso total en efectivo de aproximadamente 500 millones de d贸lares por los cierres de activos.
Beneficios operativos
- La gerencia apunta a un incremento del EBITDA operativo de aproximadamente 200 millones de d贸lares, alcanzando el 50% a finales de 2027 y el ritmo completo para 2029.
- Ahorro anual promedio estimado en capex de aproximadamente 60 millones de d贸lares.
- Las acciones buscan "ajustar" la capacidad, reducir la exposici贸n a ventas mercantiles y eliminar activos de mayor costo y alta intensidad energ茅tica, mejorando la rentabilidad en Europa.
Fuerza laboral y otras consideraciones
- Aproximadamente 800 puestos ser谩n eliminados adem谩s de los 1,500 recortes bajo el plan de ahorro de costos de 1,000 millones de d贸lares de enero de 2025.
- Los posibles costos de remediaci贸n ambiental a煤n est谩n bajo evaluaci贸n y podr铆an generar cargos adicionales.
- Dow llevar谩 a cabo los procesos de informaci贸n y consulta requeridos con las partes interesadas locales.
En general, la presentaci贸n se帽ala un impacto considerable en ganancias y compromiso de efectivo a corto plazo, pero la gerencia proyecta una mejora significativa en m谩rgenes y eficiencia de capital a mediano plazo una vez que se completen los cierres.
Dow Inc. (NYSE: DOW)電� 2025雲� 6鞗� 30鞚� 鞚挫偓須� 鞀轨澑 甑“臁办爼 臁办箻毳� 氚滍憸頃橂姅 8-K毳� 鞝滌稖頄堨姷雼堧嫟. 鞚� 頂勲攴鸽灗鞚� 靹标臣臧� 鞝�臁绊暅 鞙犽熃 靸侂 鞛愳偘瓿� 鞚茧秬 靹犿儩霅� 旮办梾 鞁滌劋鞚� 雽�靸侅溂搿� 頃╇媹雼�. Dow電� 雼れ潓鞚� 韽愳噭頃� 鞓堨爼鞛呺媹雼�: (1) 霃呾澕 氲愲爩鞚� 鞐愴嫺霠� 韥灅旎� (Packaging & Specialty Plastics), (2) 霃呾澕 鞀堨綌韺岇毎鞚� 韥措搿滌晫旃茧Μ 氚� 牍勲嫄 鞛愳偘 (Industrial Intermediates & Infrastructure), (3) 鞓侁淡 氚半Μ鞚� 旮半掣 鞁る靷� 頂岆灉韸� (Performance Materials & Coatings). 鞁ろ枆鞚� 2026雲� 欷戨皹鞐� 鞁滌瀾霅橃柎 2027雲� 4攵勱赴旯岇 鞕勳爠 韽愳噭毳� 氇╉憸搿� 頃橂┌, 頃挫泊 鞛戩梾鞚� 2029雲勱箤歆� 瓿勳啀霅� 靾� 鞛堨姷雼堧嫟.
鞛 鞓來枼
- 2025雲� 2攵勱赴 甑“臁办爼 牍勳毄 齑濎暋: 6鞏� 3,000毵寏7鞏� 9,000毵� 雼煬.
- 雮挫棴: 鞛愳偘 韽夑皜鞝堩晿 氚� 靻愳嫟 3鞏� 3,000毵寏3鞏� 6,000毵� 雼煬; 觳犾垬 氚� 觳橂秳 牍勳毄 1鞏� 6,000毵寏2鞏� 6,000毵� 雼煬; 韲挫旮� 氚� 氤惦Μ頉勳儩 1鞏� 4,000毵寏1鞏� 7,000毵� 雼煬.
- 鞚� 牍勳毄瓿� 甏�霠悳 頄ロ泟 順勱笀 歆�旮夓暋: 3鞏祣4鞏� 3,000毵� 雼煬毳� 4雲勳棎 瓯胳硱 歆�旮�.
- 於旉皜 鞁ろ枆 牍勳毄(氚滌儩 鞁� 牍勳毄 觳橂Μ): 2鞏� 6,000毵寏3鞏� 5,000毵� 雼煬, 順勱笀 歆�於滌潃 2鞏� 500毵寏2鞏� 6,000毵� 雼煬.
- 氤勲弰鞚� 響滌棎電� 鞛愳偘 韽愳噭毳� 鞙勴暅 齑� 順勱笀 歆�於� 鞎� 5鞏� 雼煬臧� 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
鞖挫榿靸� 鞚挫爯
- 瓴届榿歆勋潃 鞎� 2鞏� 雼煬鞚� 鞓侅梾 EBITDA 歃濌皜毳� 氇╉憸搿� 頃橂┌, 2027雲� 毵愱箤歆� 50%, 2029雲勱箤歆� 鞕勳爠 鞝曥儊頇旐暊 瓿勴殟鞛呺媹雼�.
- 鞐绊弶攴� 韴瀽牍勳毄 鞝堦皭鞎§潃 鞎� 6,000毵� 雼煬搿� 於旍爼霅╇媹雼�.
- 鞚措矆 臁办箻電� 鞖╇焿鞚� 鞝侅爼 靾橃鞙茧 臁办爼頃橁碃, 靸侅梾 韺愲Г 雲胳稖鞚� 欷勳澊氅�, 牍勳毄鞚� 雴掙碃 鞐愲剤歆� 歆戩暯鞝侅澑 鞛愳偘鞚� 鞝滉卑頃橃棳 鞙犽熃 雮� 靾橃澋靹膘潉 臧滌劆頃橂姅 雿� 氇╈爜鞚� 鞛堨姷雼堧嫟.
鞚鸽牓 氚� 旮绊儉 瓿犽牑靷暛
- 2025雲� 1鞗� 10鞏� 雼煬 牍勳毄 鞝堦皭 瓿勴殟鞐� 霐半ジ 1,500氇� 臧愳洂 鞕胳棎 鞎� 800氇�鞚� 鞚胳洂鞚� 於旉皜搿� 臧愳稌霅╇媹雼�.
- 鞛犾灛鞝侅澑 頇橁步 氤店惮 牍勳毄鞚� 鞎勳 韽夑皜 欷戩澊氅� 於旉皜 牍勳毄 氚滌儩 臧�電レ劚鞚� 鞛堨姷雼堧嫟.
- Dow電� 歆�鞐� 鞚错暣甏�瓿勳瀽鞕� 頃勳殧頃� 鞝曤炒 鞝滉车 氚� 順戩潣 鞝堨皑毳� 歆勴枆頃� 鞓堨爼鞛呺媹雼�.
鞝勲皹鞝侅溂搿� 鞚措矆 瓿奠嫓電� 雼赴鞝侅溂搿� 靸侂嫻頃� 靾橃澋 臧愳唽鞕� 順勱笀 歆�於滌潉 鞚橂頃橃毵�, 瓴届榿歆勋潃 韽愳噭臧� 鞕勲霅� 頉� 欷戧赴鞝侅溂搿� 鞚橂 鞛堧姅 毵堨 臧滌劆瓿� 鞛愲掣 須湪靹膘潉 旮半寑頃橁碃 鞛堨姷雼堧嫟.
Dow Inc. (NYSE : DOW) a d茅pos茅 un formulaire 8-K annon莽ant des mesures de restructuration approuv茅es par le conseil d'administration en date du 30 juin 2025. Le programme cible des actifs en amont europ茅ens sous-performants ainsi que certaines installations corporatives s茅lectionn茅es. Dow proc茅dera 脿 la fermeture de : (1) un craqueur d'茅thyl猫ne 脿 B枚hlen, Allemagne (Packaging & Specialty Plastics), (2) des actifs chloro-alcali et vinyle 脿 Schkopau, Allemagne (Industrial Intermediates & Infrastructure), et (3) une usine de siloxanes basiques 脿 Barry, Royaume-Uni (Performance Materials & Coatings). La mise en 艙uvre d茅butera 脿 la mi-2026 avec des arr锚ts complets d'ici le 4e trimestre 2027 ; le d茅mant猫lement pourrait se poursuivre jusqu'en 2029.
Impact financier
- Charge totale de restructuration au 2T25 : 630-790 millions de dollars.
- Composition : d茅pr茅ciations/amortissements d'actifs 330-360 millions de dollars ; co没ts de sortie et de cession 160-260 millions de dollars ; indemnit茅s et avantages 140-170 millions de dollars.
- Paiements futurs en tr茅sorerie li茅s 脿 ces charges : 300-430 millions de dollars sur quatre ans.
- Co没ts suppl茅mentaires de mise en 艙uvre (comptabilis茅s en charges) : 260-350 millions de dollars avec d茅caissement en tr茅sorerie de 205-260 millions de dollars.
- Un tableau s茅par茅 mentionne un d茅caissement global d'environ 500 millions de dollars pour les arr锚ts d'actifs.
B茅n茅fices op茅rationnels
- La direction vise une am茅lioration de l鈥橢BITDA op茅rationnel d鈥檈nviron 200 millions de dollars, atteignant 50 % fin 2027 et le plein r茅gime d鈥檌ci 2029.
- 脡vitement moyen annuel des d茅penses d鈥檌nvestissement estim茅 脿 environ 60 millions de dollars.
- Les actions visent 脿 "ajuster" la capacit茅, r茅duire l鈥檈xposition aux ventes marchandes et 茅liminer des actifs 脿 co没ts 茅lev茅s et 茅nergivores, am茅liorant ainsi la rentabilit茅 en Europe.
Effectifs et autres consid茅rations
- Environ 800 postes seront supprim茅s en plus des 1 500 emplois supprim茅s dans le cadre du plan d鈥櫭ヽonomies de 1 milliard de dollars de janvier 2025.
- Les co没ts potentiels de d茅pollution environnementale sont encore en cours d鈥櫭﹙aluation et pourraient entra卯ner des charges suppl茅mentaires.
- Dow m猫nera les processus d鈥檌nformation et de consultation requis avec les parties prenantes locales.
Dans l鈥檈nsemble, le d茅p么t signale un impact important 脿 court terme sur les b茅n茅fices et les liquidit茅s, mais la direction pr茅voit une am茅lioration significative des marges et de l鈥檈fficacit茅 du capital 脿 moyen terme une fois les arr锚ts termin茅s.
Dow Inc. (NYSE: DOW) hat am 30. Juni 2025 eine 8-K-Meldung eingereicht, in der vom Vorstand genehmigte Restrukturierungsma脽nahmen angek眉ndigt werden. Das Programm zielt auf unterdurchschnittliche europ盲ische Upstream-Anlagen und ausgew盲hlte Unternehmensstandorte ab. Dow wird schlie脽en: (1) einen Ethylen-Cracker in B枚hlen, Deutschland (Packaging & Specialty Plastics), (2) Chlorkalium- und Vinyl-Anlagen in Schkopau, Deutschland (Industrial Intermediates & Infrastructure) und (3) eine Basissiloxan-Anlage in Barry, Gro脽britannien (Performance Materials & Coatings). Die Umsetzung beginnt Mitte 2026 mit vollst盲ndigen Stilllegungen bis zum 4. Quartal 2027; die Stilllegung kann bis 2029 andauern.
Finanzielle Auswirkungen
- Gesamte Restrukturierungskosten im 2. Quartal 2025: 630鈥�790 Millionen US-Dollar.
- Zusammensetzung: Abschreibungen/Wertminderungen von Verm枚genswerten 330鈥�360 Millionen US-Dollar; Ausstiegs- und Entsorgungskosten 160鈥�260 Millionen US-Dollar; Abfindungen und Leistungen 140鈥�170 Millionen US-Dollar.
- Zuk眉nftige Barzahlungen im Zusammenhang mit diesen Aufwendungen: 300鈥�430 Millionen US-Dollar 眉ber vier Jahre.
- Zus盲tzliche Umsetzungskosten (als Aufwand erfasst): 260鈥�350 Millionen US-Dollar mit Barabfluss von 205鈥�260 Millionen US-Dollar.
- Eine separate Tabelle nennt eine aggregierte Barzahlung von ca. 500 Millionen US-Dollar f眉r die Anlagenstilllegungen.
Betriebliche Vorteile
- Das Management strebt eine Steigerung des operativen EBITDA um ca. 200 Millionen US-Dollar an, die bis Ende 2027 50 % und bis 2029 den vollen Betrieb erreicht.
- Durchschnittliche j盲hrliche Capex-Vermeidung wird auf etwa 60 Millionen US-Dollar 驳别蝉肠丑盲迟锄迟.
- Die Ma脽nahmen zielen darauf ab, die Kapazit盲t anzupassen, die Exponierung gegen眉ber Handelsverk盲ufen zu reduzieren und h枚herkostenintensive, energieintensive Anlagen zu eliminieren, um die Rentabilit盲t in Europa zu verbessern.
Mitarbeiter & weitere 脺berlegungen
- 鲍苍驳别蹿盲丑谤 800 Stellen werden zus盲tzlich zu den 1.500 Stellen gestrichen, die im Rahmen des 1-Milliarde-Dollar-Kostensenkungsplans vom Januar 2025 abgebaut wurden.
- Potenzielle Umwelt-Sanierungskosten werden noch bewertet und k枚nnten weitere Aufwendungen ausl枚sen.
- Dow wird die erforderlichen Informations- und Konsultationsprozesse mit lokalen Interessengruppen durchf眉hren.
Insgesamt signalisiert die Meldung einen erheblichen kurzfristigen Gewinnr眉ckgang und Liquidit盲tsbedarf, aber das Management prognostiziert eine bedeutende mittelfristige Margenverbesserung und Kapital-Effizienz nach Abschluss der Stilllegungen.
- Projected $200 million annual Operating EBITDA uplift once full run-rate is achieved by 2029, enhancing margins.
- Right-sizing of higher-cost European capacity reduces exposure to volatile merchant markets and energy-intensive assets.
- Capex avoidance of roughly $60 million per year improves free cash flow generation.
- Majority of restructuring charges are non-cash, limiting pressure on liquidity despite headline cost.
- Substantial restructuring charge of $630-$790 million will depress 2Q25 reported earnings.
- Cash outlay of approximately $500 million over four years diverts resources from growth initiatives.
- Loss of roughly 800 jobs alongside prior workforce reductions could affect morale and incur severance costs.
- Potential additional environmental remediation liabilities remain unquantified, creating uncertainty.
- European market challenges persist; benefits depend on execution and favorable macro conditions.
Insights
TL;DR 鈥� Large 2025 charge, but structural cost savings and $200 MM EBITDA upside by 2029 balance near-term pain.
Dow is tackling Europe鈥檚 chronic cost disadvantage head-on. Closing three upstream units should remove high-cost ethylene and chlor-alkali capacity, shrinking exposure to low-margin merchant sales. The $630-$790 MM charge will dent 2Q25 GAAP EPS, yet ~70 % is non-cash. Cash outflows of ~$500 MM over four years are manageable relative to 2024 operating cash flow of ~$7 B. The projected $200 MM EBITDA uplift equates to roughly 3 % of 2024 EBITDA鈥攎odest but material given the challenged macro backdrop. Execution risk exists (regulatory clearances, remediation, labor negotiations), and additional environmental costs could surface. Overall impact skews neutral-positive long term.
TL;DR 鈥� Short-term EPS drag, workforce cuts; medium-term cash returns improve if $200 MM uplift materializes.
From a capital-allocation lens, shutting uncompetitive assets frees future maintenance capex (~$60 MM/yr) and supports Dow鈥檚 stated $6 B near-term cash-return commitment. However, investors must absorb ~$0.85-$1.05 per share in restructuring charges this quarter (assuming 720 MM shares). The 800 additional job cuts highlight persistent margin pressure in Europe. If management meets the 2029 EBITDA goal, NPV appears positive at mid-teens IRR; if energy prices normalize or demand rebounds sooner, opportunity cost of lost volumes could offset gains. I classify the news as impactful but balanced; monitoring 2026-2027 progress is critical.
Dow Inc. (NYSE: DOW) ha presentato un modulo 8-K annunciando azioni di ristrutturazione approvate dal Consiglio in data 30 giugno 2025. Il programma interessa asset upstream europei con performance inferiori e alcune strutture aziendali selezionate. Dow chiuder脿: (1) un cracker di etilene a B枚hlen, Germania (Packaging & Specialty Plastics), (2) asset cloro-alcali e vinile a Schkopau, Germania (Industrial Intermediates & Infrastructure), e (3) un impianto base di silossani a Barry, Regno Unito (Performance Materials & Coatings). L鈥檌mplementazione inizier脿 a met脿 2026 con chiusure complete entro il quarto trimestre 2027; il decommissionamento potr脿 proseguire fino al 2029.
Impatto finanziario
- Addebito totale di ristrutturazione nel 2Q25: 630-790 milioni di dollari.
- Composizione: svalutazioni e perdite di asset per 330-360 milioni di dollari; costi di uscita e dismissione per 160-260 milioni di dollari; indennit脿 e benefici per 140-170 milioni di dollari.
- Pagamenti futuri in contanti legati a questi oneri: 300-430 milioni di dollari distribuiti su quattro anni.
- Costi aggiuntivi di implementazione (spesi al momento della loro sostenibilit脿): 260-350 milioni di dollari con esborso in contanti di 205-260 milioni di dollari.
- Una tabella separata indica un esborso complessivo in contanti di circa 500 milioni di dollari per le chiusure degli asset.
Benefici operativi
- La direzione prevede un aumento dell鈥橢BITDA operativo di circa 200 milioni di dollari, raggiungendo il 50% entro fine 2027 e il pieno regime operativo entro il 2029.
- Risparmio medio annuo stimato in capex di circa 60 milioni di dollari.
- Le azioni mirano a "ridimensionare" la capacit脿, ridurre l鈥檈sposizione alle vendite mercantili ed eliminare asset ad alto costo e ad elevato consumo energetico, migliorando la redditivit脿 europea.
Forza lavoro e altre considerazioni
- Circa 800 posizioni saranno eliminate, oltre ai 1.500 tagliati con il piano di risparmio da 1 miliardo di dollari annunciato a gennaio 2025.
- I potenziali costi di bonifica ambientale sono ancora in fase di valutazione e potrebbero generare ulteriori oneri.
- Dow condurr脿 i processi informativi e consultivi richiesti con le parti interessate locali.
In sintesi, la comunicazione segnala un impatto significativo sugli utili e un impegno di cassa nel breve termine, ma la direzione prevede un miglioramento sostanziale dei margini e dell鈥檈fficienza del capitale nel medio termine, una volta completate le chiusure.
Dow Inc. (NYSE: DOW) present贸 un formulario 8-K anunciando acciones de reestructuraci贸n aprobadas por la Junta con fecha 30 de junio de 2025. El programa se enfoca en activos upstream europeos con bajo rendimiento y ciertas instalaciones corporativas seleccionadas. Dow cerrar谩: (1) un cracker de etileno en B枚hlen, Alemania (Packaging & Specialty Plastics), (2) activos de cloro-谩lcali y vinilo en Schkopau, Alemania (Industrial Intermediates & Infrastructure), y (3) una planta b谩sica de siloxanos en Barry, Reino Unido (Performance Materials & Coatings). La implementaci贸n comenzar谩 a mediados de 2026 con cierres completos para el cuarto trimestre de 2027; el desmantelamiento podr铆a continuar hasta 2029.
Impacto financiero
- Cargo total por reestructuraci贸n en 2T25: 630-790 millones de d贸lares.
- Composici贸n: depreciaciones y bajas de activos por 330-360 millones de d贸lares; costos de salida y disposici贸n por 160-260 millones de d贸lares; indemnizaciones y beneficios por 140-170 millones de d贸lares.
- Pagos futuros en efectivo relacionados con estos cargos: 300-430 millones de d贸lares durante cuatro a帽os.
- Costos adicionales de implementaci贸n (gastos a medida que se incurren): 260-350 millones de d贸lares con desembolso en efectivo de 205-260 millones de d贸lares.
- Una tabla separada indica un desembolso total en efectivo de aproximadamente 500 millones de d贸lares por los cierres de activos.
Beneficios operativos
- La gerencia apunta a un incremento del EBITDA operativo de aproximadamente 200 millones de d贸lares, alcanzando el 50% a finales de 2027 y el ritmo completo para 2029.
- Ahorro anual promedio estimado en capex de aproximadamente 60 millones de d贸lares.
- Las acciones buscan "ajustar" la capacidad, reducir la exposici贸n a ventas mercantiles y eliminar activos de mayor costo y alta intensidad energ茅tica, mejorando la rentabilidad en Europa.
Fuerza laboral y otras consideraciones
- Aproximadamente 800 puestos ser谩n eliminados adem谩s de los 1,500 recortes bajo el plan de ahorro de costos de 1,000 millones de d贸lares de enero de 2025.
- Los posibles costos de remediaci贸n ambiental a煤n est谩n bajo evaluaci贸n y podr铆an generar cargos adicionales.
- Dow llevar谩 a cabo los procesos de informaci贸n y consulta requeridos con las partes interesadas locales.
En general, la presentaci贸n se帽ala un impacto considerable en ganancias y compromiso de efectivo a corto plazo, pero la gerencia proyecta una mejora significativa en m谩rgenes y eficiencia de capital a mediano plazo una vez que se completen los cierres.
Dow Inc. (NYSE: DOW)電� 2025雲� 6鞗� 30鞚� 鞚挫偓須� 鞀轨澑 甑“臁办爼 臁办箻毳� 氚滍憸頃橂姅 8-K毳� 鞝滌稖頄堨姷雼堧嫟. 鞚� 頂勲攴鸽灗鞚� 靹标臣臧� 鞝�臁绊暅 鞙犽熃 靸侂 鞛愳偘瓿� 鞚茧秬 靹犿儩霅� 旮办梾 鞁滌劋鞚� 雽�靸侅溂搿� 頃╇媹雼�. Dow電� 雼れ潓鞚� 韽愳噭頃� 鞓堨爼鞛呺媹雼�: (1) 霃呾澕 氲愲爩鞚� 鞐愴嫺霠� 韥灅旎� (Packaging & Specialty Plastics), (2) 霃呾澕 鞀堨綌韺岇毎鞚� 韥措搿滌晫旃茧Μ 氚� 牍勲嫄 鞛愳偘 (Industrial Intermediates & Infrastructure), (3) 鞓侁淡 氚半Μ鞚� 旮半掣 鞁る靷� 頂岆灉韸� (Performance Materials & Coatings). 鞁ろ枆鞚� 2026雲� 欷戨皹鞐� 鞁滌瀾霅橃柎 2027雲� 4攵勱赴旯岇 鞕勳爠 韽愳噭毳� 氇╉憸搿� 頃橂┌, 頃挫泊 鞛戩梾鞚� 2029雲勱箤歆� 瓿勳啀霅� 靾� 鞛堨姷雼堧嫟.
鞛 鞓來枼
- 2025雲� 2攵勱赴 甑“臁办爼 牍勳毄 齑濎暋: 6鞏� 3,000毵寏7鞏� 9,000毵� 雼煬.
- 雮挫棴: 鞛愳偘 韽夑皜鞝堩晿 氚� 靻愳嫟 3鞏� 3,000毵寏3鞏� 6,000毵� 雼煬; 觳犾垬 氚� 觳橂秳 牍勳毄 1鞏� 6,000毵寏2鞏� 6,000毵� 雼煬; 韲挫旮� 氚� 氤惦Μ頉勳儩 1鞏� 4,000毵寏1鞏� 7,000毵� 雼煬.
- 鞚� 牍勳毄瓿� 甏�霠悳 頄ロ泟 順勱笀 歆�旮夓暋: 3鞏祣4鞏� 3,000毵� 雼煬毳� 4雲勳棎 瓯胳硱 歆�旮�.
- 於旉皜 鞁ろ枆 牍勳毄(氚滌儩 鞁� 牍勳毄 觳橂Μ): 2鞏� 6,000毵寏3鞏� 5,000毵� 雼煬, 順勱笀 歆�於滌潃 2鞏� 500毵寏2鞏� 6,000毵� 雼煬.
- 氤勲弰鞚� 響滌棎電� 鞛愳偘 韽愳噭毳� 鞙勴暅 齑� 順勱笀 歆�於� 鞎� 5鞏� 雼煬臧� 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
鞖挫榿靸� 鞚挫爯
- 瓴届榿歆勋潃 鞎� 2鞏� 雼煬鞚� 鞓侅梾 EBITDA 歃濌皜毳� 氇╉憸搿� 頃橂┌, 2027雲� 毵愱箤歆� 50%, 2029雲勱箤歆� 鞕勳爠 鞝曥儊頇旐暊 瓿勴殟鞛呺媹雼�.
- 鞐绊弶攴� 韴瀽牍勳毄 鞝堦皭鞎§潃 鞎� 6,000毵� 雼煬搿� 於旍爼霅╇媹雼�.
- 鞚措矆 臁办箻電� 鞖╇焿鞚� 鞝侅爼 靾橃鞙茧 臁办爼頃橁碃, 靸侅梾 韺愲Г 雲胳稖鞚� 欷勳澊氅�, 牍勳毄鞚� 雴掙碃 鞐愲剤歆� 歆戩暯鞝侅澑 鞛愳偘鞚� 鞝滉卑頃橃棳 鞙犽熃 雮� 靾橃澋靹膘潉 臧滌劆頃橂姅 雿� 氇╈爜鞚� 鞛堨姷雼堧嫟.
鞚鸽牓 氚� 旮绊儉 瓿犽牑靷暛
- 2025雲� 1鞗� 10鞏� 雼煬 牍勳毄 鞝堦皭 瓿勴殟鞐� 霐半ジ 1,500氇� 臧愳洂 鞕胳棎 鞎� 800氇�鞚� 鞚胳洂鞚� 於旉皜搿� 臧愳稌霅╇媹雼�.
- 鞛犾灛鞝侅澑 頇橁步 氤店惮 牍勳毄鞚� 鞎勳 韽夑皜 欷戩澊氅� 於旉皜 牍勳毄 氚滌儩 臧�電レ劚鞚� 鞛堨姷雼堧嫟.
- Dow電� 歆�鞐� 鞚错暣甏�瓿勳瀽鞕� 頃勳殧頃� 鞝曤炒 鞝滉车 氚� 順戩潣 鞝堨皑毳� 歆勴枆頃� 鞓堨爼鞛呺媹雼�.
鞝勲皹鞝侅溂搿� 鞚措矆 瓿奠嫓電� 雼赴鞝侅溂搿� 靸侂嫻頃� 靾橃澋 臧愳唽鞕� 順勱笀 歆�於滌潉 鞚橂頃橃毵�, 瓴届榿歆勋潃 韽愳噭臧� 鞕勲霅� 頉� 欷戧赴鞝侅溂搿� 鞚橂 鞛堧姅 毵堨 臧滌劆瓿� 鞛愲掣 須湪靹膘潉 旮半寑頃橁碃 鞛堨姷雼堧嫟.
Dow Inc. (NYSE : DOW) a d茅pos茅 un formulaire 8-K annon莽ant des mesures de restructuration approuv茅es par le conseil d'administration en date du 30 juin 2025. Le programme cible des actifs en amont europ茅ens sous-performants ainsi que certaines installations corporatives s茅lectionn茅es. Dow proc茅dera 脿 la fermeture de : (1) un craqueur d'茅thyl猫ne 脿 B枚hlen, Allemagne (Packaging & Specialty Plastics), (2) des actifs chloro-alcali et vinyle 脿 Schkopau, Allemagne (Industrial Intermediates & Infrastructure), et (3) une usine de siloxanes basiques 脿 Barry, Royaume-Uni (Performance Materials & Coatings). La mise en 艙uvre d茅butera 脿 la mi-2026 avec des arr锚ts complets d'ici le 4e trimestre 2027 ; le d茅mant猫lement pourrait se poursuivre jusqu'en 2029.
Impact financier
- Charge totale de restructuration au 2T25 : 630-790 millions de dollars.
- Composition : d茅pr茅ciations/amortissements d'actifs 330-360 millions de dollars ; co没ts de sortie et de cession 160-260 millions de dollars ; indemnit茅s et avantages 140-170 millions de dollars.
- Paiements futurs en tr茅sorerie li茅s 脿 ces charges : 300-430 millions de dollars sur quatre ans.
- Co没ts suppl茅mentaires de mise en 艙uvre (comptabilis茅s en charges) : 260-350 millions de dollars avec d茅caissement en tr茅sorerie de 205-260 millions de dollars.
- Un tableau s茅par茅 mentionne un d茅caissement global d'environ 500 millions de dollars pour les arr锚ts d'actifs.
B茅n茅fices op茅rationnels
- La direction vise une am茅lioration de l鈥橢BITDA op茅rationnel d鈥檈nviron 200 millions de dollars, atteignant 50 % fin 2027 et le plein r茅gime d鈥檌ci 2029.
- 脡vitement moyen annuel des d茅penses d鈥檌nvestissement estim茅 脿 environ 60 millions de dollars.
- Les actions visent 脿 "ajuster" la capacit茅, r茅duire l鈥檈xposition aux ventes marchandes et 茅liminer des actifs 脿 co没ts 茅lev茅s et 茅nergivores, am茅liorant ainsi la rentabilit茅 en Europe.
Effectifs et autres consid茅rations
- Environ 800 postes seront supprim茅s en plus des 1 500 emplois supprim茅s dans le cadre du plan d鈥櫭ヽonomies de 1 milliard de dollars de janvier 2025.
- Les co没ts potentiels de d茅pollution environnementale sont encore en cours d鈥櫭﹙aluation et pourraient entra卯ner des charges suppl茅mentaires.
- Dow m猫nera les processus d鈥檌nformation et de consultation requis avec les parties prenantes locales.
Dans l鈥檈nsemble, le d茅p么t signale un impact important 脿 court terme sur les b茅n茅fices et les liquidit茅s, mais la direction pr茅voit une am茅lioration significative des marges et de l鈥檈fficacit茅 du capital 脿 moyen terme une fois les arr锚ts termin茅s.
Dow Inc. (NYSE: DOW) hat am 30. Juni 2025 eine 8-K-Meldung eingereicht, in der vom Vorstand genehmigte Restrukturierungsma脽nahmen angek眉ndigt werden. Das Programm zielt auf unterdurchschnittliche europ盲ische Upstream-Anlagen und ausgew盲hlte Unternehmensstandorte ab. Dow wird schlie脽en: (1) einen Ethylen-Cracker in B枚hlen, Deutschland (Packaging & Specialty Plastics), (2) Chlorkalium- und Vinyl-Anlagen in Schkopau, Deutschland (Industrial Intermediates & Infrastructure) und (3) eine Basissiloxan-Anlage in Barry, Gro脽britannien (Performance Materials & Coatings). Die Umsetzung beginnt Mitte 2026 mit vollst盲ndigen Stilllegungen bis zum 4. Quartal 2027; die Stilllegung kann bis 2029 andauern.
Finanzielle Auswirkungen
- Gesamte Restrukturierungskosten im 2. Quartal 2025: 630鈥�790 Millionen US-Dollar.
- Zusammensetzung: Abschreibungen/Wertminderungen von Verm枚genswerten 330鈥�360 Millionen US-Dollar; Ausstiegs- und Entsorgungskosten 160鈥�260 Millionen US-Dollar; Abfindungen und Leistungen 140鈥�170 Millionen US-Dollar.
- Zuk眉nftige Barzahlungen im Zusammenhang mit diesen Aufwendungen: 300鈥�430 Millionen US-Dollar 眉ber vier Jahre.
- Zus盲tzliche Umsetzungskosten (als Aufwand erfasst): 260鈥�350 Millionen US-Dollar mit Barabfluss von 205鈥�260 Millionen US-Dollar.
- Eine separate Tabelle nennt eine aggregierte Barzahlung von ca. 500 Millionen US-Dollar f眉r die Anlagenstilllegungen.
Betriebliche Vorteile
- Das Management strebt eine Steigerung des operativen EBITDA um ca. 200 Millionen US-Dollar an, die bis Ende 2027 50 % und bis 2029 den vollen Betrieb erreicht.
- Durchschnittliche j盲hrliche Capex-Vermeidung wird auf etwa 60 Millionen US-Dollar 驳别蝉肠丑盲迟锄迟.
- Die Ma脽nahmen zielen darauf ab, die Kapazit盲t anzupassen, die Exponierung gegen眉ber Handelsverk盲ufen zu reduzieren und h枚herkostenintensive, energieintensive Anlagen zu eliminieren, um die Rentabilit盲t in Europa zu verbessern.
Mitarbeiter & weitere 脺berlegungen
- 鲍苍驳别蹿盲丑谤 800 Stellen werden zus盲tzlich zu den 1.500 Stellen gestrichen, die im Rahmen des 1-Milliarde-Dollar-Kostensenkungsplans vom Januar 2025 abgebaut wurden.
- Potenzielle Umwelt-Sanierungskosten werden noch bewertet und k枚nnten weitere Aufwendungen ausl枚sen.
- Dow wird die erforderlichen Informations- und Konsultationsprozesse mit lokalen Interessengruppen durchf眉hren.
Insgesamt signalisiert die Meldung einen erheblichen kurzfristigen Gewinnr眉ckgang und Liquidit盲tsbedarf, aber das Management prognostiziert eine bedeutende mittelfristige Margenverbesserung und Kapital-Effizienz nach Abschluss der Stilllegungen.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported)
(Exact name of Registrant as specified in its charter)
| (State
or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(I.R.S.
Employer Identification Number) |
(Address of principal executive offices) (Zip code)
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| The Capital Market | ||||
| The
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement
On July 7, 2025, Cyclacel Pharmeceuticals, Inc., a Delaware corporation (the “Company”), entered into amendment no. 1 (the “Amendment”) to the exchange agreement dated May 6, 2025 (the “Exchange Agreement”) among the Company, FITTERS Diversified Berhad, a Malaysian publicly listed company (“Fitters Parent”) and FITTERS Sdn. Bhd., a Malaysia private limited company and wholly-owned subsidiary of Fitters Parent (“Fitters”). Pursuant to the Exchange Agreement, the parties intended to effect a voluntary share exchange transaction (the “Transaction”) whereby Fitters Parent will exchange all of its ownership interest in Fitters representing 100% of all of the issued and outstanding capital shares of Fitters, for 19.99 percent of all of the issued and outstanding shares of common stock, par value $0.001, of the Company, on the closing date of the Transaction (the “Exchange Shares”).
The Amendment provides that in addition to the Exchange Shares, the Company will pay USD $1,000,000 or a mutually agreed upon amount at closing, to Fitters Parent as consideration under the Exchange Agreement. Additionally, the parties agreed to extend the Final Date (as defined under the Exchange Agreement) to September 30, 2025.
The following description of the terms and conditions of the Amendment and the transactions contemplated thereunder that are material to the Company does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached hereto as Exhibit 2.1 and is incorporated by reference into this Item 1.01.
Item 7.01 Regulation FD Disclosure
On July 7, 2025, the Company issued a press release announcing the execution of the Amendment. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information set forth in Item 7.01 of this report shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference in any of the Company’s filings with the Securities and Exchange Commission under the Exchange Act or the Securities Act of 1933, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. | Description | |
| 2.1 | Amendment No. 1 to Exchange Agreement dated July 7, 2025 | |
| 99.1 | Press release dated July 7, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Important Information about the Exchange and Where to Find It
This Current Report relates to a proposed transaction among the Company, Fitters Parent and Fitters. In connection with the proposed transaction, the Company intends to file with the SEC a registration statement on Form S-4 that will include a proxy statement of the Company and that will constitute a prospectus with respect to shares of the Company’s common stock to be issued in the proposed transaction (the “Proxy Statement/Prospectus”). The Company may also file other documents with the SEC regarding the proposed transaction. This document is not a substitute for the Proxy Statement/Prospectus or any other document which the Company may file with the SEC. INVESTORS, FITTERS PARENT AND COMPANY STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT ARE OR WILL BE FILED BY THE COMPANY WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors, Fitters Parent and Company stockholders will also be able to obtain free copies of the Proxy Statement/Prospectus (when available) and other documents containing important information about the Company, Fitters and the proposed transaction that are or will be filed with the SEC by the Company through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by the Company will also be available free of charge on the Company’s website at www.cyclacel.com.
No Offer or Solicitation
This Current Report is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Participants in the Solicitation
The Company and certain of its directors and executive officers may be deemed under SEC rules to be participants in the solicitation of proxies of the Company’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to the Company’s stockholders in connection with the proposed transaction will be set forth in the Proxy Statement/Prospectus on Form S-4 for the proposed transaction, which is expected to be filed with the SEC by the Company. Investors and Fitters Parent and Company stockholders are urged to read the Proxy Statement/Prospectus and other relevant documents that will be filed with the SEC by the Company carefully and in their entirety when they become available because they will contain important information about the proposed transaction. Investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus and other documents containing important information about Fitters and the Company through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by the Company can be obtained free of charge by directing a written request to Cyclacel Pharmaceuticals, Inc., at [email protected].
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this filing may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding the Exchange and the exchange of equity interests contemplated by the Exchange Agreement, the issuance of the Company’s common stock, the closing of the transaction and the expected filing of the proxy statement/prospectus by the Company. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the risk that the conditions to the closing of the proposed transaction are not satisfied, including the failure to timely or at all obtain stockholder approval for the proposed transaction or the failure to timely or at all obtain any required regulatory clearances; (ii) uncertainties as to the timing of the consummation of the proposed transaction and the ability of each of the Company and Fitters Parent to consummate the proposed transaction; (iii) the ability of the Company and Fitters to integrate their businesses successfully and to achieve anticipated synergies; (iv) the possibility that other anticipated benefits of the proposed transaction will not be realized, including without limitation, anticipated revenues, expenses, earnings and other financial results, and growth and expansion of the combined company’s operations, and the anticipated tax treatment of the combination; (v) potential litigation relating to the proposed transaction that could be instituted against the Company, Fitters, Fitters Parent or their respective directors; (vi) possible disruptions from the proposed transaction that could harm the Company’s and/or Fitters’ respective businesses; (vii) the ability of the Company and Fitters to retain, attract and hire key personnel; (viii) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties resulting from the announcement or completion of the proposed transaction; (ix) potential business uncertainty, including changes to existing business relationships, during the pendency of the proposed transaction that could affect the Company’s or Fitters’s financial performance; (x) certain restrictions during the pendency of the proposed transaction that may impact the Company’s or Fitters’ ability to pursue certain business opportunities or strategic transactions; (xi) legislative, regulatory and economic developments; (xii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as management’s response to any of the aforementioned factors; and (xiii) such other factors as are set forth in the Company’s periodic public filings with the SEC, including but not limited to those described under the heading “Risk Factors” in the Company’s Form 10-K for the fiscal year ended December 31, 2024. The Company can give no assurance that the conditions to the proposed transaction will be satisfied. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: July 7, 2025 | Cyclacel Pharmaceuticals, Inc. | |
| By: | /s/ Datuk Dr. Doris Wong Sing Ee | |
| Name: | Datuk Dr. Doris Wong Sing Ee | |
| Title: | Chief Executive Officer | |
| 3 |
Source:
FAQ
What restructuring charge will Dow (DOW) record in Q2 2025?
Which Dow facilities are being shut down under the 2025 plan?
How much Operating EBITDA uplift does Dow target from these shutdowns?
What is the expected cash outlay related to the restructuring?
How many Dow employees will be affected by the asset closures?
When will the European asset shutdowns be completed?
