The Dow Chemical Company has signed a 10-year agreement to be a global sponsor of the Olympics.
The
Midland-based company officially announced the agreement late last week. Company officials say they hope the agreement will bring in more than $1 billion of revenue over the next decade through various activities, including supplying material to build game facilities.
Excerpt:
The Midland, Michigan-based company will become the official chemical company for the games, meaning rivals such as DuPont Co (DD.N) and BASF (BASF.DE) will not be able to sell insulation for walls, polymers to keep ice cold, or other supply materials, to host cities.
"The Olympics is a market," Dow Chief Executive Andrew Liveris told Reuters. "This is a market and revenue opportunity that will generate $1 billion."
Dow will join nine other companies, including McDonald's Corp (MCD.N) and General Electric Co (GE.N) as part of The Olympic Partner program, also known as TOP.
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