Deals of this kind with the IOC are estimated to cost as much as $100 million over a four-year period, according to various media reports.
“Our association with the Olympics will present Dow with tremendous new business opportunities, making this partnership a powerful growth catalyst that comes at the right time in our company’s strategic transformation,” Dow Chairman-CEO Andrew Liveris said in a statement.
“Dow businesses produce the building blocks of thousands of products and materials that come together to facilitate the success and the competitions within the Olympic Games,” said Heinz Haller, Dow exec VP-sales and marketing, in a statement. “The Olympics will provide an important global stage for our products and our brand. They will also support Dow’s transformation to a technology-focused, market-driven, customercentric organization.”
Dow previously was an official supplier of the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games.