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Website: http://www.dow.com Dow develops chemicals, plastics and agricultural products that serve numerous industries and consumer markets. Dow has customers in 175 countries and a wide range of markets that are vital to human progress from food, transportation, health and medicine, personal and home care, and building and construction. Some of the innovations Dow has developed include: preservatives in foods, antifreeze for airplanes, plastic wraps, pesticides for trees, and additives used in gasoline. The company announced in December it will eliminate 5,000 full-time jobs to cut costs and close 20 plants and several businesses. Dow said it will temporarily idle 180 plants and cut 6,000 contractors from its payroll. The chemical maker expects the cuts to save about $700 million by 2010. In 2007, Dow reported revenues of $53.5 billion and net income of $2.8 billion. Dow Product Highlights History On May 18, 1897, The Dow Chemical Company is incorporated, based on Herbert H. Dow's plan to manufacture and sell bleach on a commercial scale. In 1898, the first commercial production of bleach begins. In 1906, Dow produces sodium benzoate as food preservative. The company exited the bleach business in 1913 to focus on production of chlorine. Dow established its first research lab in 1919. Dow Chemical was formed in 1951. Saran wrap was introduced in 1953 for household use. Benefits Dow contributes, on average, an additional $.40 per dollar of pay toward the cost of benefits for employees. Medical, dental insurance is provided along with health care reimbursement accounts. Dow offers eight holidays per year and two personal days for use. New employees receive 14 days of vacation for the first two years; 15 days at 3-4 years, 19 days at 5-9 years; 21 days at 10-14 years and 28 days at 30 years of service. Most employees can borrow 5 days of vacation from the next year to use. The company also provides a pension plan that vests after 5 years. A 401(k) plan and employee stock purchase is also offered. Some Dow sites offer fitness centers, dieticians and massages. Updated December 17, 2008 |