Dow concludes sale of its Sarnia site to TransAlta
FOR IMMEDIATE RELEASE
Dow Concludes Sale of its Sarnia Site to TransAlta
SARNIA, ON (March 2, 2009) – Dow Chemical Canada has successfully concluded the sale of its main Sarnia site to the property’s neighbour, TransAlta.
TransAlta takes immediate ownership of the 105-hectare (260-acre) Vidal Street property, including some services and utilities, as well as several structures. As outlined in the June 2008 memorandum of understanding between the two parties, the sale does not change existing plans for Dow Sarnia employees. Also as previously announced, the final agreement includes tenancy provisions that will enable Dow to safely complete its operations closure and meet all of its environmental obligations, as planned.
“We are pleased to have TransAlta’s full support to continue operating our remaining manufacturing plant on site until April, as scheduled, and then proceed with its orderly closure and demolition,” said Don Fysh, site operations director. “The agreement discussions have confirmed for us that TransAlta is a most appropriate buyer, whoses philosophies and practices are consistent with Dow’s core values of economic, environmental and social responsibility.”
Dow will also complete its ongoing environmental assessment of the property and conduct appropriate remediation works, as needed. “We will be working in close consultation with TransAlta, as we continue to implement our site restoration plan to its completion in 2011,” said Catherine Creber, Dow’s closure leader for the Sarnia site.
Dow Chemical Canada ULC, a subsidiary of The Dow Chemical Company, employs approximately 1,200 people in Canada. Headquartered in Calgary, Alberta, Dow Canada and its affiliates have manufacturing locations in: Sarnia and Toronto, Ontario; Fort Saskatchewan and Prentiss, Alberta; and Varennes, Quebec. Dow Canada is proud to join the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games (VANOC) as the official supplier of Insulation Materials and Heat Transfer Fluids. In addition, Dow Canada and VANOC, being mutually committed to the principles of sustainability, will work together on litter and end-of-life waste management programs to ensure the success of VANOC's 'Zero Waste' initiative. For more information about Dow Canada, please visit our website at www.dowcanada.com.
For editorial information:
Dow Sarnia Director of Operations
Dow Sarnia Site Closure Leader