Dow Chemical Co. announced a 10-year sponsorship deal with the International Olympic Committee.
Olympic and Dow officials declined to reveal terms, but other media outlets covering the story have estimated that deals of this kind can cost as much as US$100 million over a four-year period.
“Our association with the Olympics will present Dow with tremendous new business opportunities, making this partnership a powerful growth catalyst that comes at the right time in our company’s strategic transformation,” Dow chairman and CEO Andrew Liveris said in a statement.
“Dow businesses produce the building blocks of thousands of products and materials that come together to facilitate the success and the competitions within the Olympic Games,” said Heinz Haller, Dow's executive VP of sales and marketing, in a statement. “The Olympics will provide an important global stage for our products and our brand. They will also support Dow’s transformation to a technology-focused, market-driven, customercentric organization.”
Midland, Mich.-based Dow previously was an official supplier of the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games.