Dow Inc. announced Thursday it has completed the $121 million sale of its Telone™ soil fumigation product line to TriCal Soil Solutions Inc., a prominent distributor and applicator in the soil treatment sector.

The divestiture supports Dow’s strategy to concentrate on its core businesses and enhance long-term shareholder value. The transaction aligns with the company’s “best-owner mindset,” which prioritizes allocating resources to areas where Dow is best positioned to lead.

“We are pleased to announce the successful completion of this divestiture, a move that aligns with Dow’s strategy to focus on its core, downstream markets,” said Marco ten Bruggencate, president of Dow’s Industrial Intermediates & Infrastructure segment. “The Telone product line will benefit from focused investments to capitalize on growth in the agricultural market segments it serves.”

TriCal Soil Solutions, based in California, is expected to enhance the Telone brand by investing in innovation and expanding its reach within the agricultural sector. Telone products are used globally to manage soilborne pests and diseases in high-value crops.

The transaction, valued at approximately 10 times the projected 2024 operating EBITDA for the Telone business, underscores Dow’s intent to optimize its portfolio and concentrate on businesses with higher growth potential and return on capital.

Dow continues to evaluate opportunities to streamline its operations and focus on markets where it holds a leadership position, particularly in high-performance materials, coatings, and industrial solutions.

The company said proceeds from the sale will be used for general corporate purposes and further support its disciplined capital allocation strategy.

Dow Inc. is a global materials science company providing innovative and sustainable solutions across high-growth industries such as packaging, infrastructure, mobility, and consumer goods. With a diverse product portfolio, Dow manufactures essential materials including plastics—such as polyethylene, polypropylene, polystyrene, and polyurethane—as well as silicones, adhesives, and sealants.

The company leverages its global scale, integrated asset network, and strong business positions to drive innovation and long-term value. Dow’s commitment to sustainability is at the core of its operations, supporting the transition to a low-carbon, circular economy and enabling customers to meet their environmental goals.

With manufacturing sites in 30 countries and a workforce of approximately 36,000 employees, Dow maintains a significant global presence. The company’s broad reach and strategic focus on operational excellence, product innovation, and responsible practices help deliver profitable growth and build a more sustainable future.

In 2024, Dow reported annual sales of approximately $43 billion, reflecting its strong market position and ability to meet the evolving needs of industries worldwide.