The Dow Chemical Company’s (DOW) wholly owned subsidiary Dow AgroSciences announced that it has produced the first fat-free Omega-9 Sunflower Oil. It is obtained from seeds developed by the company through traditional plant-breeding. The product was unveiled at the Institute of Food Technologists Annual Meeting and Food Expo in New Orleans.
The all-natural Omega-9 oil is touted as having no trans fats and high in heart-healthy monounsaturated fats. The oil, rich in this unique component, is in compliance with the Dietary Guidelines for Americans that encourage decreasing the risk for cardiovascular disease by cutting down saturated fats and replacing them with monounsaturated and polyunsaturated fats.
It is anticipated that this heart-healthy, fat free oil would be available in stores in the next two years.
Last month, Dow announced that Omega-9 Oils helped in removing over 1 billion pounds of saturated and trans fats from the North American diet. Omega-9 Oils last nearly 75% longer than all the other oils in the restaurants’ use. One billion pounds of bad fats translate to over 700 million pounds of trans fats and nearly 300 million pounds of saturated fat.
Omega-9 Oils are the next generation of healthier oils for both food service and food processing. Regular use of Omega-9 oil successfully reduces the consumption of oil in the restaurant industry by nearly 100 million pounds each year.
Dow AgroSciences, based in Indianapolis, Indiana, USA, is a top-tier agricultural company providing innovative agrochemical and biotechnology solutions globally.
Dow supplies high-performance materials, agricultural products, plastics (polyethylene and polypropylene) and industrial chemicals to industries and consumers globally. The company’s products have a vast array of applications and are used by various industries including farming, construction, transportation, electronics and consumer goods.
Recently, Dow reported its first quarter of 2011 results. The company earned $0.82 per share in the first quarter of 2011, ahead of the Zacks Consensus Estimate of $0.67 per share as well as last year’s $0.43 per share. However, including one-time charges, the company earned $0.54 per share compared with $0.41 per share in the year-ago quarter.
Quarterly revenues jumped 20% year over year to $14.7 billion and were above the Zacks Consensus Estimate of $13.8 billion. Volume and pricing gains across all business segments and geographical regions, particularly North America and Europe, yielded healthy revenue growth.
Dow anticipates that demand would improve further, especially in Asia with the global economic recovery. The US and European markets have also started showing signs of improvement. Dow is also optimistic on major consumer-markets, including electronics, coatings, automotive and packaging. However, construction markets are expected to remain weak.
DOW faces stiff competition from EI DuPont de Nemours & Co. (DD).
Currently, Dow has a short-term (1 to 3 months) Zacks #1 Rank (Strong Buy) but a long- term Neutral recommendation.
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