陶氏化学董事长兼首席执行官Jim Fitterling强调："'转型增效'计划将大幅简化工作执行流程，确保陶氏持续保持行业领导地位。通过采用跨行业顶尖流程与 前沿技术，此次行动将进一步加速我们已实施的各项举措，以应对行业长期低谷与结构性挑战。" 截自陶氏化学公告 具体来说，"转型增效"计划分三年落地：2026年目标新增5亿美元（约合人民币34.8亿元）运营EBITDA，预计投入8亿至10亿美元（约合人民币55.6亿-69.5 亿元）成本；2027年目标新增12亿美元（约合人民币83.4亿元）运营EBITDA，预计投入3亿至5亿美元成本（约合人民币20.9亿-34.8亿元）；2028年目标当 年新增3亿美元（约合人民币20.9亿元）运营EBITDA，预计不产生成本。 1月29日，知名原料商陶氏化学宣布启动"转型增效"（Transform to Outperform）重组计划，核心内容包括推动运营息税折旧摊销前利润（EBITDA）至少增 加20亿美元（约合人民币139亿元），拟裁减约4500个岗位等。这与2025年初宣布的10亿美元（约合人民币69.5亿元）成本节约计划形成协同效应。 据悉，该计划预计产生11亿- ...

Core Viewpoint - Dow Chemical has announced a comprehensive restructuring plan called "Transform to Outperform," aimed at simplifying operations, optimizing end-to-end processes, and improving cost structures to enhance customer service [2][3]. Group 1: Restructuring Plan - The "Transform to Outperform" plan aims to increase operational EBITDA by at least $2 billion (approximately 14 billion RMB) in the short term, with two-thirds of the gains expected from production efficiency improvements and one-third from business growth [2]. - The company anticipates one-time costs associated with the plan to be between $1.1 billion and $1.5 billion, including severance costs for approximately 4,500 employees, which represents about 13% of the workforce [2][3]. Group 2: Financial Performance - For Q4 2025, Dow reported net sales of $9.46 billion, a 9% year-over-year decline, with a net loss of $1.477 billion compared to a loss of $35 million in Q4 2024 [4][7]. - The company's full-year net sales for 2025 were $40 billion, down from $42.964 billion in 2024, with a net loss of $2.4 billion compared to a profit of $1.2 billion in 2024 [6][7]. - Operating EBIT for Q4 2025 was $33 million, a significant decrease from $454 million in Q4 2024, reflecting challenges in the packaging and specialty plastics sectors [7]. Group 3: Market Challenges - The decline in sales volume was primarily driven by decreased demand in the packaging and specialty plastics sectors, influenced by lower polymer prices and reduced demand in the photovoltaic sector [4][5]. - Local prices fell by 8% year-over-year and 3% quarter-over-quarter, contributing to the overall decline in sales [4].