Dow Building Solutions Invests For Growth With Agreement to Acquire Stevens(R) Roofing



    
    -Commercial roofing expertise integral to DBS focus on creating energy
    efficient buildings-
    

    MIDLAND, Mich., June 11 /CNW/ -- Dow Building Solutions (DBS), a
market-facing business unit of The Dow Chemical Company (NYSE:   DOW), announced
today that it has signed an agreement to acquire Stevens(R) Roofing Systems
and Geomembrane Systems, a business of JPS Industries, Inc.  Based in Holyoke,
Mass., Stevens(R) Roofing Systems manufactures reinforced thermoplastic (TPO)
commercial roofing systems, an area with significant growth potential that
aligns well with Dow's energy efficient building expertise. Pending the
transaction close, Dow plans to operate the acquired business as Dow Roofing
Systems LLC.  Financial terms were not disclosed. Regulatory approval is not
required, and the transaction is expected to close within 30 days.
    Dow Building Solutions' participation in the commercial construction
market centers around creating energy efficient structures, including
insulation, weatherization systems and exterior wall systems.  Stevens(R) is
an innovator and a recognized leader in TPO single-ply roofing systems for
commercial and industrial applications.  The planned acquisition adds
Stevens(R)' commercial roofing expertise to Dow's building science know-how,
insulation and polymer technology expertise to deliver comprehensive solutions
in this rapidly-growing industry segment.
    "Dow has more than 60 years of experience working with commercial
customers to create energy efficient buildings," said Torsten Kraef, Dow
Building Solutions president and general manager. "Obviously, roofing is a
critical component to a total energy efficient building solution, and our
planned acquisition of Stevens(R) Roofing Systems is a major step toward
realizing our goal of providing our customers with an additional option for
their overall building design."
    As creating energy efficient, comfortable indoor environments becomes an
integral part of building design, architects and building owners are selecting
materials that contribute to reduced energy costs over a building's lifetime,
and offer reliable protection against wind, rain, moisture and other outdoor
elements. The energy efficient TPO single-ply roofing system, introduced by
Stevens(R), is rapidly becoming the preferred roofing system.  Its reflective
white membrane "cool roof" performance and energy savings appeal to building
owners, while contractors appreciate the ease of installation.  The quality of
the Stevens(R)' offering and its reputation for outstanding roofing design,
systems, service and warranties were crucial factors in Dow's decision to
acquire Stevens(R).
    "Our primary focus will be to ensure a seamless transition for Stevens(R)
Roofing customers and employees," Kraef emphasizes.
    Dow Building Solutions has realigned its portfolio to enable the business
to build upon its leadership position by growing in key markets and achieving
consistent earnings across economic troughs. "Our investment in the commercial
roofing segment supports our strategy to target markets where we can realize
consistent growth and deliver unique, technology-rich solutions to our
customers," noted Kraef. "We believe that increasing our participation in the
commercial roofing segment fits perfectly with this strategy and will deliver
greater value to Dow and our customers over the long term."
    Dow Building Solutions currently manufactures and markets rigid roofing
insulation and adhesives, and recently announced its participation in a U.S.
Department of Energy Solar America Initiative (SAI) project to help create
innovative building integrated photovoltaic (BIPV) products. As a part of its
SAI program, DBS is creating a flexible solar roof shingle. As a leader in
creating energy efficient building solutions for more than 60 years, the
business plays an important role in helping Dow to achieve its 2015
Sustainability Goals.
    
    About Dow Building Solutions
    
    Dow Building Solutions has a 60-year legacy of providing energy saving
solutions to the global commercial and residential construction industry,
which began with the launch of its flagship STYROFOAM(TM) extruded polystyrene
(XPS) insulation, one of the most recognized brands of insulation in the
world. A market-facing business unit of The Dow Chemical Company, Dow Building
Solutions offers unsurpassed expertise to help builders, designers, architects
and homeowners reduce energy costs and protect against wind, rain and
moisture, while contributing to the reduction of greenhouse gas emissions.
    
    About Dow
    
    With annual sales of $54 billion and 46,000 employees worldwide, Dow is a
diversified chemical company that combines the power of science and technology
with the "Human Element" to constantly improve what is essential to human
progress. The Company delivers a broad range of products and services to
customers in around 160 countries, connecting chemistry and innovation with
the principles of sustainability to help provide everything from fresh water,
food and pharmaceuticals to paints, packaging and personal care products.
References to "Dow" or the "Company" mean The Dow Chemical Company and its
consolidated subsidiaries unless otherwise expressly noted.

    (R)(TM) Trademark of The Dow Chemical Company ("Dow") or an affiliated
company of Dow




For further information:

For further information: Rebecca Bentley, +1-989-638-8568, of The Dow
Chemical Company; or Elizabeth McDonnell, +1-203-613-6463,
emcdonnell@gibbs-soell.com, or Urszula Murphy, +1-212-697-2600 ext. 1296,
umurphy@gibbs-soell.com, both of Gibbs & Soell, Inc., for The Dow Chemical
Company Web Site: http://dow.com

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THE DOW CHEMICAL COMPANY

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DOW BUILDING SOLUTIONS

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