As Dow pursues its vision to be the largest, most profitable and most respected chemical company in the world, we need to harness the full power of the Company's geographic experience and ensure that we appropriately identify, fairly prioritize and effectively pursue regional growth opportunities.

We really do believe that industrial biotech is critical to our evolution, but the technologies of the foreseeable future just do not give the returns we expect from our research dollar.

This was a tremendous quarter at the end of an outstanding year for Dow.