Dow unveiled on Wednesday plans to boost its core earnings by $3 billion a year over the next decade, with investments that include building a new net-zero carbon emissions ethylene and derivatives facility in Alberta, Canada. The chemicals maker, once part of DowDupont, joins a growing list of companies that have announced plans to cut emissions and reduce carbon footprint following pressure from investors. Calling the new project a “no-regrets” move, Dow’s Chief Executive Officer Jim Fitterling said he expects the facility to deliver about $1 billion of additional earnings before interest, tax, depreciation, and amortization (EBITDA) per year by 2030. Near-term investments to expand manufacturing capacity of chemicals and materials used in packaging, specialty plastics, coatings, and other businesses are expected to generate about $2 billion of EBITDA, the company said. The new facility would more than triple Dow’s ethylene and polyethylene capacity from its Fort Saskatchewan, Alberta site, …
RSS Feed | The Epoch Times