Organizing Committee of the XXII Olympic Winter Games of 2014
has declared chemical giant
The Dow Chemical Company
) as the Official Carbon Partners for the event scheduled between
Feb 7, 2014 and Feb 23, 2014 in Sochi, Russia.
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The Organizing Committee intends to deliver the Games with least
impact on the climate. In order to fulfill this vision and
creating awareness about climate change in Russia, Dow will work
together with local companies and marketing partners of Sochi
Dow will help to eliminate the estimated carbon footprint
associated with the delivery of the Games by deploying
energy-efficient technologies and improve greenhouse gas (GHG)
In order to develop the measurement tools to account for the
carbon benefits, Dow will also work with Offsetters Climate
Solutions, the Official Supplier of Carbon Offsets of the
Vancouver Organizing Committee. ERM, a premier provider of
environmental, health, safety, risk, and social consulting
services, will be giving critical review of this collaboration.
Dow released its fourth-quarter 2012 results on Jan 31, 2013. The
company reported a wider loss of 61 cents a share in the quarter
compared with a loss of 2 cents in the fourth quarter of 2011,
due to hefty restructuring and goodwill impairment charges. Dow's
adjusted earnings of 33 cents a share missed the Zacks Consensus
Estimate by a penny.
Weak end-market conditions and lower pricing affected sales in
the quarter. However, Dow's agricultural business was a bright
spot, with sales increasing at a double-digit rate. Dow is
benefiting from strong fundamentals in agriculture and food
markets and is leveraging its North American feedstock advantage.
A string of innovative products in Dow's pipeline adds to its
strength. However, weaknesses in the electronics and construction
end markets may continue in the first quarter of 2013. Moreover,
Dow faces challenges in Western Europe and is exposed to
significant pension headwinds.
Dow Chemical retains a short-term (1 to 3 months) Zacks Rank #3
(Hold). Other companies in the chemical industry that are worth
Air Products and Chemicals Inc.
Akzo Nobel NV
LyondellBasell Industries NV
). All of them carry a Zacks Rank #2 (Buy).