Dow Corning

Dow Corning Corporation was an American multinational company focused on silicone materials, silicon-based technologies, and related industrial applications. It was established in 1943 as a joint venture between The Dow Chemical Company and Corning Glass Works, later known as Corning Incorporated, to develop the commercial and military potential of silicone chemistry. The company initially supplied silicone-based materials for the United States military during World War II and established its first manufacturing plant in Midland, Michigan, in 1945. The company expanded internationally during the postwar period. It entered Canada and Europe in 1948 and later extended its operations to South America and Japan in 1961. Over time, Dow Corning developed a broad portfolio serving electronics, automotive manufacturing, construction, healthcare, energy, consumer products, and other industrial markets. Its offerings included silicone sealants, adhesives, elastomers, lubricants, fluids, gels, resins, solvents, and specialty compounds. The company marketed more than 7,000 products and services, while a large subset was distributed through Xiameter, an online-oriented channel intended to provide more standardized access to silicone materials. Dow Corning also had a significant position in silicon materials through its majority-owned subsidiary Hemlock Semiconductor Corporation. Hemlock produced high-purity polycrystalline silicon for semiconductor wafer manufacturing and photovoltaic applications. This business connected Dow Corning to the electronics and solar-energy supply chains and became one of the company's most strategically important technology platforms. The Dow Corning brand was also deeply affected by litigation involving silicone breast implants. Beginning in the 1980s, plaintiffs alleged that the implants caused breast cancer and a range of systemic or autoimmune conditions. The litigation expanded through the 1990s and contributed to a major class-action settlement in 1998. Dow Corning entered bankruptcy protection and remained there for approximately nine years, emerging in June 2004. During the bankruptcy period, it substantially withdrew from clinical markets. Later scientific and regulatory assessments did not establish that silicone breast implants caused breast cancer or a broadly identifiable systemic disease, although the United States Food and Drug Administration subsequently reported a very low but increased risk of breast implant-associated anaplastic large-cell lymphoma. The company's ownership structure changed in the 2010s. Corning announced its intention to exit the joint venture in 2014. In 2015, Dow Chemical agreed to acquire Corning's interest for $4.8 billion in cash, while Corning received an approximately 40 percent interest in Hemlock Semiconductor. Dow Chemical assumed full ownership of Dow Corning on June 1, 2016. After the Dow-DuPont transaction, Dow Corning briefly operated within the DowDuPont structure. The company changed its name to Dow Silicones Corporation in 2018, and the former Dow Corning business subsequently became part of Dow's wholly owned silicone operations. DOWSIL became the trade name associated with the former Dow Corning portfolio, which included thousands of products and services.

Dow Corning originated in 1943 when Dow Chemical and Corning Glass Works formed a joint venture to explore silicone chemistry. The venture was created during a period when silicone materials were attracting attention for their heat resistance, chemical stability, electrical properties, and flexibility. Its earliest work included products for the U.S. military during World War II. In 1945, Dow Corning began operating its first plant in Midland, Michigan, which became the company's principal base. E. C. Sullivan served as the first president, while William R. Collings was appointed general manager in 1943. Collings later became president and held that position from 1954 through 1962. Under the joint venture structure, Dow Corning developed from a research-oriented operation into a broad industrial materials manufacturer. It expanded into Canada and Europe in 1948 and into South America and Japan in 1961, establishing an international platform for silicone production and sales. The company's portfolio grew to more than 7,000 products and services. These included sealants, adhesives, elastomers, fluids, oils, lubricants, gels, resins, and solvents. Applications extended across electronics, automotive production, construction, healthcare, energy, and other sectors. The Xiameter channel made roughly 2,100 materials available through an online-focused distribution model, including fluids, gels, and resins. Dow Corning also developed a substantial silicon-materials business through its majority ownership of Hemlock Semiconductor Corporation. Hemlock produced high-purity polycrystalline silicon for semiconductor wafers and photovoltaic solar cells, giving Dow Corning exposure to both advanced electronics and solar-energy manufacturing. A major interruption came from litigation over silicone breast implants. Beginning in 1984, plaintiffs brought claims alleging links between the implants and breast cancer, lupus, rheumatoid arthritis, neurological conditions, and other systemic illnesses. The claims expanded through the 1980s and 1990s and culminated in a reported $3.2 billion class-action settlement in 1998. Dow Corning entered bankruptcy protection and stayed under protection for approximately nine years, emerging in June 2004. During that period, it largely withdrew from clinical markets. Later reviews, including an Institute of Medicine assessment cited in the reference material, did not find that silicone breast implants caused breast cancer or an identifiable broad systemic disease. In 2017, however, the FDA reported a very low but increased risk of breast implant-associated anaplastic large-cell lymphoma, a rare cancer linked to breast implants. The ownership structure changed after Corning decided to leave the venture. In 2014, Dow disclosed Corning's intention to exit after 71 years. In December 2015, Dow Chemical announced an agreement to acquire Corning's stake for $4.8 billion in cash. As part of the arrangement, Corning received an approximately 40 percent interest in Hemlock Semiconductor. Dow Chemical completed the transaction on June 1, 2016, making Dow Corning wholly owned by Dow. The business briefly existed within the DowDuPont corporate structure following the announced Dow-DuPont merger. In 2018, it was renamed Dow Silicones Corporation. The former Dow Corning portfolio subsequently continued under Dow, with DOWSIL used as the trade name for more than 7,000 silicone products and services.

1. 2018The business is renamed Dow Silicones Corporation

   The former Dow Corning operation adopts a new corporate name under Dow ownership.

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2. 2016Dow becomes sole owner

   Dow Chemical completes the purchase of Corning's interest on June 1.

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3. 2015Dow agrees to buy Corning's interest

   Dow Chemical agrees to acquire Corning's stake for $4.8 billion in cash.

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4. 2004Bankruptcy protection ends

   Dow Corning exits approximately nine years of bankruptcy protection.

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5. 1998Class-action settlement is reached

   Dow Corning reaches a reported $3.2 billion settlement related to silicone breast implant claims.

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6. 1961Expansion reaches South America and Japan

   The company establishes a broader presence in South American and Japanese markets.

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7. 1948International expansion begins

   Dow Corning expands into Canada and Europe.

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8. 1945First Midland manufacturing plant begins operation

   The company starts operating its first plant in Midland, Michigan.

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9. 1943Dow Corning is founded as a joint venture

   Dow Chemical and Corning Glass Works establish Dow Corning to develop silicone technology and related products.

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A technology-driven specialty-materials company supplying silicone and silicon-based solutions to industrial and technical markets, including electronics, automotive, construction, healthcare, energy, and photovoltaics.

• DOWSILSilicone materials and services

  DOWSIL is the trade name used for the former Dow Corning silicone portfolio. The range covers thousands of products and services, including sealants, adhesives, elastomers, fluids, gels, resins, lubricants, and other specialty formulations for construction, electronics, automotive, healthcare, energy, and industrial applications.

• XiameterOnline silicone distribution

  Xiameter was Dow Corning's online-oriented distribution channel for a standardized selection of silicone materials. The range included fluids, gels, resins, and other products, and was intended to give customers more direct access to approximately 2,100 materials from the broader portfolio.

• Hemlock Semiconductor polycrystalline siliconSemiconductor and photovoltaic materials

  Through its majority-owned Hemlock Semiconductor subsidiary, Dow Corning participated in the production of high-purity polycrystalline silicon. The material was supplied in different purity grades for semiconductor wafer production and photovoltaic solar-cell manufacturing.

• 2018Rename the business as Dow Silicones CorporationStrategy

  Following the change in ownership and the Dow-DuPont corporate restructuring, Dow reorganized the former joint-venture business under its own corporate identity.

  What changed. The company changed its name from Dow Corning Corporation to Dow Silicones Corporation.

  Aftermath. The silicone portfolio continued under Dow, with DOWSIL used as the trade name for the former Dow Corning products and services.

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• 2015Acquire Corning's ownership interestM&A

  Corning sought to exit the long-running Dow Corning joint venture, while Dow wanted full control of the silicone business.

  What changed. Dow Chemical agreed to purchase Corning's stake for $4.8 billion in cash, with Corning receiving an approximately 40 percent interest in Hemlock Semiconductor.

  Aftermath. Dow Chemical completed the acquisition on June 1, 2016, making Dow Corning a wholly owned subsidiary.

  Cash consideration. $4.8 billion (Announced in 2015)

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• 2017Regulatory findings on breast implant-associated ALCLControversy

  The FDA stated that women with breast implants faced a very low but increased risk of a rare cancer known as breast implant-associated anaplastic large-cell lymphoma. The agency cited nine deaths in its statement.

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• 1984Silicone breast implant litigationControversy

  Beginning in the 1980s, plaintiffs alleged that Dow Corning silicone breast implants caused breast cancer and various systemic or autoimmune conditions. The litigation expanded through the 1990s and led to a major settlement and prolonged bankruptcy proceedings.

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• 2018Dow Corning changes its name to Dow Silicones Corporation

  The former Dow Corning business adopted the Dow Silicones Corporation name after becoming part of Dow's fully owned silicone operations.

  Leadership change
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• 2016Dow Chemical assumes full ownership of Dow Corning

  Dow Chemical completed the acquisition of Corning's stake and made Dow Corning a wholly owned Dow subsidiary.

  M&A
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• 2015Dow agrees to acquire Corning's Dow Corning stake

  Dow Chemical agreed to buy Corning's interest for $4.8 billion in cash, with Corning receiving an approximately 40 percent interest in Hemlock Semiconductor.

  M&A
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• 2014Corning announces plans to exit Dow Corning

  Dow Chemical disclosed that Corning intended to leave the joint venture after more than seven decades, citing other strategic priorities.

  M&A
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• 1961Dow Corning enters South America and Japan

  The company extended its international presence to South America and Japan.

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• 1948Dow Corning expands into Canada and Europe

  The company began international expansion into Canada and European markets.

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• 1945Dow Corning opens its first plant in Midland

  The company began operating its first manufacturing plant in Midland, Michigan.

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• 1943Dow Corning is established as a Dow-Corning joint venture

  Dow Chemical and Corning Glass Works formally created Dow Corning to investigate and commercialize silicone technology, initially with military applications.

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1. Dow Corning