Subsidiaries of The Dow Chemical Company	EXHIBIT 21
At December 31, 2015
					Location*
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
The Dow Chemical Company					Delaware
	Arabian Chemical Company (Latex) Ltd. (1)				Saudi Arabia
	Arabian Chemical Company (Polystyrene) Limited (1)				Saudi Arabia
	Battleground Water Company				Texas
	Buildscape, Inc.				Florida
	Buildscape, LLC				Delaware
	CD Polymers Inc.				Delaware
	Centen Ag Inc.				Delaware
		Dow AgroSciences LLC			Delaware
		DowBrands Inc.			Delaware
		Mycogen Corporation			California
	Chemars III LLC				Delaware
	Chemtech II L.P.				Delaware
	Clean Filtration Technologies LLC				Delaware
	DC Partnership Management Inc.				Delaware
		DowBrands L.P.			Delaware
	DCOMCO, Inc.				Delaware
	Denmerco Inc.				Delaware
	Diamond Capital Management Inc.				Delaware
	Dofinco, Inc.				Delaware
	Dow Business Services LLC				Delaware
	Dow Capital International LLC				Delaware
	Dow Chemical (China) Investment Company Limited				China
		Dow Chemical (Guangzhou) Company Limited			China
		Dow Chemical (Shanghai) Company Limited			China
		Dow Chemical (Zhangjiagang) Company Limited			China
		Guangdong Zhongshan Amerchol Specialty Chemicals Co., Ltd.			China
		Zhejiang Pacific Chemical Corporation			China
	Dow Chemical (Singapore) Private Limited				Singapore
		Dow Chemical (Myanmar) Company Limited			Myanmar
		Dow Chemical Bangladesh Private Limited			Bangladesh
		Dow Chemical International Private Limited			India
		PT Dow Indonesia			Indonesia
	Dow Chemical China Holdings Pte. Ltd.				Singapore
	Dow Chemical Delaware Corp.				Delaware
		Chemtech II L.P.			Delaware
			Chemtech Portfolio Inc.		Texas
			Chemtech Portfolio II Inc.		Michigan
	Dow Chemical International Ltd.				Delaware
		Dow Chemical Thailand Ltd.			Thailand
		Dow International Holdings Company			Delaware
		Dow International Holdings S.A.			Switzerland
		Petroquimica-Dow S.A. (Petrodow)			Chile
	Dow Chemical Kuwait B.V.				Netherlands
	Dow Chemical Singapore Holdings Pte. Ltd.				Singapore
	Dow Chemical Taiwan Limited				Taiwan
	Dow Chemical Telecommunications Corp.				Delaware
	Dow Chemical Tianjin Holdings Pte. Ltd.				Singapore
		Dow Chemical (Tianjin) Company Limited			China
	Dow Credit Corporation				Delaware
	Dow Customs & Trade LLC				Delaware
	Dow Deutschland Inc.				Delaware
		Dow Chemical Inter-American Limited			Delaware
			Dow Quimica de Colombia S.A.		Colombia

162

					Subsidiaries of The Dow Chemical Company						EXHIBIT 21
At December 31, 2015
											Location*
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
	Dow Deutschland Management Inc.										Delaware
	Dow Engineering Company										Delaware
		Dow Engineering, Inc.									Michigan
	Dow Environmental Inc.										Delaware
	Dow Financial Services Inc.										Delaware
	Dow Global Technologies LLC										Delaware
		Chemtech Portfolio Inc.									Texas
			Stonehenge Community Development XVII, LLC								Delaware
		Dow Technology Investments LLC									Delaware
	Dow Holdings LLC										Delaware
		Dow Corning Corporation (1)									Michigan
		Dow Hydrocarbons and Resources LLC									Delaware
			Cayuse Pipeline, Inc.								Texas
			Dow Intrastate Gas Company								Louisiana
			Dow Pipeline Company								Texas
			K/D/S Promix, LLC (1)								Texas
			Midland Pipeline Corp.								Delaware
				Fort Saskatchewan Ethylene Storage Corporation (1)							Canada
					Fort Saskatchewan Ethylene Storage Limited Partnership						Canada
		DowBrands L.P.									Delaware
	Dow Internacional Mexicana S.A. de C.V.										Mexico
	Dow International Financial Services										Ireland
		Dow Capital Public Limited Company									Ireland
	Dow International Holdings Company										Delaware
		DC Spectrum Holding C.V.									Netherlands
			Coöperatieve DC Prisma Holding U.A.								Netherlands
				Dow Dutch Holding B.V.							Netherlands
					DC Galaxy Holding C.V.						Netherlands
					Dow International Holdings S.A.						Switzerland
						3243424 Nova Scotia Company					Canada
						DC Galaxy Holding C.V.					Netherlands
							Dow Europe Holding B.V.				Netherlands
								Acima AG fur Chemische Industrie			Switzerland
								BASF DOW HPPO B.V. (1)			Netherlands
								BASF DOW HPPO Technology B.V. (1)			Netherlands
								DoNedPa B.V.			Netherlands
								Dow Austria Gesellschaft m.b.H.			Austria
								Dow Bahrain Holding W.L.L.			Bahrain
								Dow Belgium B.V.B.A.			Belgium
								Dow Benelux B.V.			Netherlands
									Dow Netwerk B.V.		Netherlands
									Polyol Belgium B.V.B.A.		Belgium
									Valuepark Terneuzen Beheer B.V. (1)		Netherlands
										Valuepark Terneuzen C.V. (1)	Netherlands
								Dow Beteiligungsgesellschaft mbH & Co. KG			Germany
									Dow Olefinverbund GmbH		Germany
								Dow Chemical Company Limited			United Kingdom
									Dow Chemical Services UK Limited		United Kingdom
									Dow Services Trustees UK Limited		United Kingdom
									Dow Trent Limited		United Kingdom
										Dow UK Limited	United Kingdom
									Hyperlast Limited		United Kingdom
								Dow Chemical East Africa Limited			Kenya
								Dow Chemical Iberica S.L.			Spain

163

	Subsidiaries of The Dow Chemical Company					EXHIBIT 21
At December 31, 2015
						Location*
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
			Terminal de Atraque de Productos Petroquimicos, A.I.E. (1)			Spain
			Transformadora de Etileno A.I.E. (1)			Spain
		Dow Chemical Korea Limited				Korea
		Dow Chemical OOO				Russia
		Dow Chemical Romania S.R.L.				Romania
		Dow Chemical West Africa Limited				Ghana
		Dow Deutschland Verwaltungs Vertriebs GmbH				Germany
			Dow Deutschland Vertriebs GmbH & Co. OHG			Germany
		Dow Europe GmbH				Switzerland
			Dow Chemical IMEA GmbH			Switzerland
			Dow Egypt Services Limited			Egypt
			Dow International Finance S.a.r.l.			Luxembourg
			Dow Mideast Systems S.A.E. (JSC)			Egypt
		Dow Hellas A.E.				Greece
		Dow Hungary Kft.				Hungary
		Dow Industrial Chemical Products Nigeria Limited				Nigeria
		Dow InterBranch B.V.				Netherlands
			Business Process Service Center Terneuzen B.V.			Netherlands
			Dow Bahrain Holding W.L.L.			Bahrain
			Dow Chemical East Africa Limited			Kenya
			Dow Danmark A/S			Denmark
			Dow Industrial Chemical Products Nigeria Limited			Nigeria
			Dow Mideast Systems S.A.E. (JSC)			Egypt
			Dow Norge A/S			Norway
			Dow Saudi Arabia Company			Saudi Arabia
			Dow Specialties Limited			Saudi Arabia
			Santa Vitoria Acucar e Alcool Ltda.			Brazil
		Dow Italia s.r.l.				Italy
			Dow AgroSciences Italia s.r.l.			Italy
			Dow Italia Divisione Commerciale s.r.l.			Italy
		Dow Mideast Systems S.A.E. (JSC)				Egypt
			Dow Egypt Services Limited			Egypt
		Dow Narmer Holding B.V.				Netherlands
			Rohm and Haas (UK) Holdings Ltd.			United Kingdom
				Morton International Limited		United Kingdom
					Rohm and Haas UK Investment Ltd.	United Kingdom
		Dow Olefinverbund GmbH				Germany
			Dow AgroSciences GmbH			Germany
			Dow Deutschland Anlagengesellschaft mbH			Germany
			Dow MF Verwaltungs GmbH			Germany
				Dow MF Produktion GmbH & Co. OHG		Germany
				Dow Stade Produktions GmbH & Co. OHG		Germany
				Dow Wolff Cellulosics GmbH & Co. OHG		Germany
			Dow Pipeline Gesellschaft mbH & Co. KG			Germany
			Dow Pipeline Verwaltungsgesellschaft mbH			Germany
			SAFECHEM Europe GmbH			Germany
				Dow Deutschland Vertriebs GmbH & Co. OHG		Germany
				Dow MF Produktion GmbH & Co. OHG		Germany
				Dow Stade Produktions GmbH & Co. OHG		Germany
				Dow Wolff Cellulosics GmbH & Co. OHG		Germany
		Dow Polska Sp.z.o.o.				Poland
		Dow Portugal Produtos Quimicos, Unipessoal, Lda.				Portugal
		Dow Saudi Arabia Company				Saudi Arabia
		Dow Saudi Arabia Holding B.V.				Netherlands

164

Subsidiaries of The Dow Chemical Company

EXHIBIT 21

At December 31, 2015

Location*

This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.

Dow Saudi Arabia Investment B.V.

Netherlands

Dow Saudi Arabia Product Marketing B.V.

Netherlands

Dow Southern Africa (Pty) Ltd

South Africa

Dow Specialties Limited

Saudi Arabia

Dow Suomi OY

Finland

Dow Sverige AB

Sweden

Rohm and Haas Nordiska AB

Sweden

Dow Turkiye Kimya Sanayi ve Ticaret Limited Sirketi

Turkey

DowAksa Advanced Composites Holdings B.V. (1)

Netherlands

HPPO Holding & Finance C.V. (1)

Netherlands

MTP HPJV C.V.

Netherlands

MTP HPJV Management B.V.

Netherlands

Polyol Belgium B.V.B.A.

Belgium

Rohm and Haas Bermuda Partner I GP

Bermuda

Rohm and Haas Denmark Bermuda GP ApS

Denmark

Rohm and Haas Bermuda GP

Bermuda

Rohm and Haas Denmark Holding Company ApS

Denmark

Finndisp Ltd.

Russia

Limited Liability Company "Rohm and Haas"

Russia

Rohm and Haas B.V.

Netherlands

Rohm and Haas Espana Production Holding, S.L.

Spain

Rohm and Haas Espana, S.L.

Spain

Rohm and Haas Europe Sales ApS

Denmark

Rohm and Haas International SNC

France

Rohm and Haas Europe Services ApS

Denmark

Rohm and Haas Europe Trading ApS

Denmark

RH Switzerland Production Holding GmbH

Switzerland

Rohm and Haas South Africa (PTY) Limited

South Africa

Rohm and Haas Italia S.r.l.

Italy

Rohm and Haas Kimyasal Urunler Uretim Dagitim ve Ticaret A.S.

Turkey

Rohm and Haas International SNC

France

Rohm and Haas France S.A.S.

France

Dow France S.A.S.

France

Rohm and Haas (UK) Limited

United Kingdom

Rohm and Haas (Scotland) Limited

United Kingdom

Rohm and Haas Electronic Materials Holdings UK Ltd.

United Kingdom

Rohm and Haas Bermuda Partner II GP

Bermuda

Rohm and Haas Bermuda GP

Bermuda

Rohm and Haas Electronic Materials Europe Ltd.

United Kingdom

Rohm and Haas Kimya Ticaret Limited Sirketi

Turkey

Rohm and Haas Kimya Sanayi Limited Sirketi

Turkey

Rohm and Haas Nederland B.V.

Netherlands

Rohm and Haas Polska Sp. z o.o.

Poland

RUS Polyurethanes Holding B.V.

Netherlands

Dow Izolan OOO

Russia

Dow Izolan Ukraine LLC

Ukraine

UC Investment B.V.

Netherlands

EQUATE Marketing Company E.C. (1)

Bahrain

Rofan Automation and Information Systems B.V.

Netherlands

Terneuzen Partnership Services B.V.

Netherlands

Valuepark Terneuzen C.V. (1)

Netherlands

Dow Netherlands Investments LLC

Delaware

Coöperatieve DC Prisma Holding U.A.

Netherlands

Dow Netherlands Holdings LLC

Delaware

165

					Subsidiaries of The Dow Chemical Company					EXHIBIT 21
At December 31, 2015
										Location*
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
			DC Spectrum Holding C.V.							Netherlands
		DowBrands Inc.								Delaware
	Dow International Technology Corporation									Delaware
	Dow Kakoh Kabushiki Kaisha									Japan
	Dow Peru S.A.									Peru
	Dow Quimica Argentina S.A.									Argentina
	Dow Quimica Chilena S.A.									Chile
	Dow Quimica de Colombia S.A.									Colombia
	Dow Quimica Mexicana S.A. de C.V.									Mexico
	Dow Roofing Systems LLC									Delaware
	Dow South Africa Holdings (Pty) Ltd.									South Africa
		Sentrachem Limited								South Africa
			Cisvaal (Proprietary) Limited							South Africa
			Minchem International Inc.							Panama
	Dow Venezuela, C.A.									Venezuela
	Dow Verwaltungsgesellschaft mbH									Germany
	DSL Holdings Inc.									Delaware
	Photon Systems LLC									Delaware
	Essex Chemical Corporation									New Jersey
	Essex Specialty Products LLC									New Jersey
		American Mortell Corporation								Texas
			Mortell Company							Delaware
		Dow Chemical (Wuhan) Company Limited								China
		Dow International Holdings Company								Delaware
		GWN Holding, Inc.								Delaware
	FilmTec Corporation									Delaware
		OMEX Overseas Holdings Inc.								Virgin Islands
			Zhejiang OMEX Environmental Engineering Co., Ltd.							China
	Flexible Products Company									Georgia
		Flexible Products Company of Canada, Inc.								Canada
	Forbanco Inc.									Delaware
	General Latex and Chemical Corporation									Massachusetts
	GNS Enterprises, LLC									Georgia
	GNS Technologies, LLC									Georgia
	Great Western Pipeline Company, Inc.									California
	GWN Holding, Inc.									Delaware
		Dow Chemical Pacific (Singapore) Private Limited								Singapore
			DoCanPa B.V.							Netherlands
				Rohm and Haas Canada Investments ULC						Canada
					3243425 Nova Scotia Company					Canada
						Daulat Canada Holding LP				Canada
						Dow Canada Holding LP				Canada
						Rohm and Haas Canada LP				Canada
					Dow Canada Holding LP					Canada
						Daulat Canada Holding LP				Canada
							3229809 Nova Scotia Company			Canada
								Dow Investment Argentina S.A.		Argentina
									PBBPolisur S.A.	Argentina
								PBBPolisur S.A.		Argentina
							Dow Investment Argentina S.A.			Argentina
							SD Group Service Co., Ltd. (1)			Thailand
								Siam Polyethylene Company Limited (1)		Thailand
							Siam Polyethylene Company Limited (1)			Thailand
						Rohm and Haas Canada LP				Canada

166

					Subsidiaries of The Dow Chemical Company				EXHIBIT 21
At December 31, 2015
									Location*
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
							Dow Chemical Canada ULC		Canada
								DEC Canada Limited	Canada
								Fort Saskatchewan Ethylene Storage Limited Partnership	Canada
								Pétromont and Company, Limited Partnership (1)	Canada
								Pétromont Inc. (1)	Canada
			Dow Chemical (Malaysia) Sdn. Bhd.						Malaysia
			Dow Chemical (Myanmar) Company Limited						Myanmar
			Dow Chemical Bangladesh Private Limited						Bangladesh
			Dow Chemical International Private Limited						India
			Dow Chemical Pacific Limited						Hong Kong
			PT Dow Indonesia						Indonesia
			Voltas Water Solutions Private Limited (1)						India
	Ifco Inc.								Delaware
		Chemtech II L.P.							Delaware
	Intarsia Corporation								Delaware
	Ion Holdings LLC								Delaware
	Liana Limited								Delaware
		Dorinco Reinsurance Company							Michigan
		Dorintal Reinsurance Limited							Vermont
	NuvoSun, Inc.								California
		NuvoSun (Shanghai) Co. Ltd.							China
	Rofan Services Inc.								Delaware
		Dow AgroSciences LLC							Delaware
		DowBrands Inc.							Delaware
		H Hotel Holding LLC							Delaware
		Ion Holdings LLC							Delaware
		Mycogen Corporation							California
			Dow AgroSciences LLC						Delaware
				DAS Agricultural Investment Holding Company Ltd.					Mauritius
					Dow AgroSciences India Pvt. Ltd.				India
					Dow AgroSciences (China) Company Limited				China
				Dintec Agrichemicals LLC (1)					Delaware
				Dow AgroSciences Agricultural Products Limited					Mauritius
					Dow AgroSciences India Pvt. Ltd.				India
					Dow AgroSciences Singapore Pte. Ltd.				Singapore
						PT Dow AgroSciences Commerce Indonesia			Indonesia
						PT Dow AgroSciences Indonesia			Indonesia
				Dow AgroSciences B.V.					Netherlands
					Ambito DAS S.A. (1)				Argentina
					Cal/West Seeds S.R.L.				Argentina
					ChacoDAS S.A. (1)				Argentina
					Daser Agro S.A. (1)				Argentina
					Desab S.A. (1)				Argentina
					Dintec Agroquimica Produtos Quimicos, Lda.				Portugal
					Dow AgroSciences (Jiangsu) Co., Ltd.				China
					Dow AgroSciences A.S.				Turkey
					Dow AgroSciences Argentina S.A.				Argentina
						Dow AgroSciences Bolivia S.A.			Bolivia
						Dow AgroSciences Paraguay S.A.			Paraguay
					Dow AgroSciences Asia Sdn. Bhd.				Malaysia
					Dow AgroSciences Australia Limited				Australia
						Advantage Wheats Pty Ltd			Australia
					Dow AgroSciences Bolivia S.A.				Bolivia
					Dow AgroSciences Canada Inc.				Canada

167

			Subsidiaries of The Dow Chemical Company				EXHIBIT 21
At December 31, 2015
							Location*
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
			Dow AgroSciences Chile S.A.				Chile
			Dow AgroSciences Costa Rica S.A.				Costa Rica
			Dow AgroSciences Danmark A/S				Denmark
			Dow AgroSciences de Colombia S.A.				Colombia
			Dow AgroSciences de Mexico S.A. de C.V.				Mexico
			Dow AgroSciences Export S.A.S.				France
			Dow AgroSciences Guatemala S.A.				Guatemala
			Dow AgroSciences Iberica S.A.				Spain
			Dow AgroSciences Limited				United Kingdom
			Dow AgroSciences Lithuania UAB				Lithuania
			Dow AgroSciences (Malaysia) Sdn Bhd				Malaysia
			Dow AgroSciences (NZ) Limited				New Zealand
			Dow AgroSciences OOO				Russia
			Dow AgroSciences Pacific Limited				Hong Kong
			Dow AgroSciences Paraguay S.A.				Paraguay
				Dow AgroSciences Bolivia S.A.			Bolivia
			Dow AgroSciences Polska Sp. z o.o.				Poland
			Dow AgroSciences S.A.S.				France
				Dow AgroSciences Distribution S.A.S.			France
			Dow AgroSciences s.r.o.				Czech Republic
			Dow AgroSciences Sverige A/B				Sweden
			Dow AgroSciences Taiwan Ltd.				Taiwan
			Dow AgroSciences Technology GmbH				Switzerland
				Dow AgroSciences Switzerland S.A.			Switzerland
					Dow AgroSciences Hungary Kft.		Hungary
				Dow AgroSciences Ukraine LLC			Ukraine
			Dow AgroSciences Ukraine LLC				Ukraine
			Dow AgroSciences Vertriebsgesellschaft m.b.H.				Austria
			Dow Brasil Industria e Comercio de Produtos Quimicos Ltda.				Brazil
				Coodetec Desenvolvimento, Producao e Comercializacao Agricola Ltda.			Brazil
				Dow AgroSciences Industrial Ltda.			Brazil
					Dow AgroSciences Sementes & Biotecnologia Brasil Ltda.		Brazil
						Nexsem Sementes Ltda. (1)	Brazil
				Dow Brasil Sudeste Industrial Ltda.			Brazil
					Dow Especialidades Quimicas Ltda.		Brazil
				Dow Especialidades Quimicas Ltda.			Brazil
					Dow Brasil Sudeste Industrial Ltda.		Brazil
			Dow Chemical Japan Limited				Japan
			Dow Venezuela, C.A.				Venezuela
			Fedea S.A. (1)				Argentina
			Forratec Argentina S.A. (1)				Argentina
			PT Dow AgroSciences Indonesia				Indonesia
				PT Dow AgroSciences Commerce Indonesia			Indonesia
			Rindes y Cultivos DAS S.A. (1)				Argentina
			SUMIDAS JV S.A. (1)				Argentina
			Terramar JV S.A. (1)				Argentina
			Ubajay DAS S.A. (1)				Argentina
		Dow AgroSciences China Ltd.					Delaware
		Dow AgroSciences International Ltd.					Delaware
			Dow AgroSciences (Thailand) Limited				Thailand
		Dow AgroSciences Southern Africa (Proprietary) Limited					South Africa
			Sanachem Zimbabwe (Pvt) Ltd.				Zimbabwe
	DowBrands Inc.						Delaware
	Mycogen Crop Protection, Inc.						California

168

Subsidiaries of The Dow Chemical Company

EXHIBIT 21

At December 31, 2015

Location*

This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.

Mycogen Plant Science, Inc.

Delaware

Agrigenetics, Inc.

Delaware

Agrigenetics Molokai LLC

Hawaii

Brodbeck Seeds LLC

Delaware

Alforex Seeds LLC

Delaware

Cal/West Seeds S.R.L.

Argentina

Dairyland Seed Co., Inc.

Wisconsin

Dow AgroSciences Argentina S.A.

Argentina

Mycogen Seeds-Puerto Rico Corporation

Delaware

Pfister Seeds LLC

Delaware

Prairie Brand Seeds LLC

Delaware

Texas Triumph Seed Co., Inc.

Texas

Phytogen Seed Company, LLC

Delaware

Wenben Inc.

Delaware

Rohm and Haas Company

Delaware

Charles Lennig & Company LLC

Delaware

Rohm and Haas Australia Pty. Ltd.

Australia

Rohm and Haas Chile Limitada

Chile

Rohm and Haas Colombia Ltda

Colombia

Rohm and Haas Argentina S.R.L.

Argentina

Rohm and Haas Australia Pty. Ltd.

Australia

Rohm and Haas Centro America, S.A.

Costa Rica

Rohm and Haas Chemicals LLC

Delaware

CVD Incorporated

Delaware

Morton Intermediate Company

Delaware

Rohm and Haas Electronic Materials Taiwan Ltd.

Taiwan

Morton International Co., Ltd.

Japan

Morton International, LLC

Indiana

Morton International Productos Quimicos Ltda.

Brazil

Rohm and Haas Credit LLC

Delaware

Rohm and Haas Capital Corporation

Delaware

Rohm and Haas Equity Corporation

Delaware

GWN Holding, Inc.

Delaware

ROH Venture GmbH

Germany

StoHaas Management GmbH (1)

Germany

StoHaas Monomer GmbH & Co. KG (1)

Germany

Rohm and Haas (Far East) Limited

Hong Kong

Rohm and Haas Asia, Inc.

Delaware

Rohm and Haas Chemical (Thailand) Limited

Thailand

Rohm and Haas China, Inc.

Delaware

Beijing Eastern Rohm and Haas Company Limited

China

Rohm and Haas International Trading (Shanghai) Co. Ltd.

China

Shanghai Eastern Rohm and Haas Co., Ltd.

China

Rohm and Haas Denmark Investments LLC

Delaware

Rohm and Haas European Holding ApS

Denmark

Rohm and Haas Denmark A/S

Denmark

DC Spectrum Holding C.V.

Netherlands

Rohm and Haas Denmark Finance A/S

Denmark

PT Rohm and Haas Indonesia

Indonesia

RH DK ChemiHaas Holding ApS

Denmark

RH DK Korea FPD Holdings ApS

Denmark

SKC Haas Display Films Co., Ltd.

Korea

SKC Haas Display Films (USA) LLC

Delaware

SKC Haas Display Films Japan K.K.

Japan

169

				Subsidiaries of The Dow Chemical Company						EXHIBIT 21
At December 31, 2015
										Location*
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
								SKC Haas Display Films Taiwan Ltd.		Taiwan
								SKC Haas Polska Sp. z o.o.		Poland
								SKC Haas Display Films (Suzhou) Co., Ltd.		China
						RH DK Korea OLED Holdings ApS				Denmark
							Dow Chemical OLED Ltd.			Korea
							Rohm and Haas Electronic Materials Korea Ltd.			Korea
						RH DK Mexico Holding ApS				Denmark
							Rohm and Haas Mexico, S. de R.L. de C.V.			Mexico
						RH DK Vietnam Holdings ApS				Denmark
							Rohm and Haas Vietnam Co., Ltd.			Vietnam
						Rohm and Haas (India) Pvt. Ltd.				India
						Rohm and Haas Argentina S.R.L.				Argentina
						Rohm and Haas Asia (Sanshui) Specialty Coatings Investment ApS				Denmark
							Rohm and Haas (Foshan) Specialty Materials Co., Ltd.			China
						Rohm and Haas Chemicals Singapore Pte. Ltd.				Singapore
						Rohm and Haas China Holding ApS				Denmark
							Rohm and Haas (China) Holding Co., Ltd.			China
						Rohm and Haas Denmark Bermuda Holding Company ApS				Denmark
							RH Asia Holding GmbH			Switzerland
								Rohm and Haas Electronic Materials Asia Limited		Hong Kong
									RH Denmark Dongguan Holding Company ApS	Denmark
									Rohm and Haas Electronic Materials (Shanghai) Co., Ltd.	China
									Rohm and Haas Electronic Materials Singapore Pte. Ltd.	Singapore
								Rohm and Haas Electronic Materials Singapore Pte. Ltd.		Singapore
						Rohm and Haas Denmark China Investment ApS				Denmark
							PT Rohm and Haas Indonesia			Indonesia
							Rohm and Haas Bermuda Partner I GP			Bermuda
							Rohm and Haas Bermuda Partner II GP			Bermuda
							Rohm and Haas Latinoamerica, S. de R.L. de C.V.			Mexico
							Rohm and Haas Mexico, S. de R.L. de C.V.			Mexico
							Rohm and Haas Shanghai Chemical Industry Co., Ltd.			China
						Rohm and Haas HK Dongguan Holding Limited				Hong Kong
							Rohm and Haas Electronic Materials (Dongguan) Co., Ltd.			China
						Rohm and Haas India Investment ApS				Denmark
							Rohm and Haas (India) Pvt. Ltd.			India
						Rohm and Haas Kimyasal Urunler Uretim Dagitim ve Ticaret A.S.				Turkey
						Rohm and Haas Latinoamerica, S. de R.L. de C.V.				Mexico
						Rohm and Haas Singapore (Pte.) Ltd.				Singapore
				Rohm and Haas European Holding ApS						Denmark
				Rohm and Haas Korea Co., Ltd.						Korea
				Rohm and Haas Malaysia Sdn Bhd						Malaysia
				Rohm and Haas Texas Incorporated						Texas
					Battleground Water Company					Texas
					ROH Monomer Holding Company					Delaware
					Rohm and Haas Investment Holdings Inc.					Delaware
		Rohm and Haas Equity Corporation								Delaware
		Rohm and Haas Wood Treatment LLC								Delaware
	Rohm and Haas Chile Limitada									Chile
	Rohm and Haas Colombia Ltda									Colombia
	Rohm and Haas Electronic Materials K.K.									Japan
		LeaRonal Japan Y.K.								Japan
		Rohm and Haas Japan Kabushiki Kaisha								Japan
			Japan Acrylic Chemical Co., Ltd.							Japan
	Rohm and Haas Equity Corporation									Delaware

170

					Subsidiaries of The Dow Chemical Company						EXHIBIT 21
At December 31, 2015
											Location*
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
		Rohm and Haas Holdings LLC									Delaware
			Rohm and Haas Chemicals LLC								Delaware
			Rohm and Haas Electronic Materials Holdings, Inc.								Delaware
				Rohm and Haas Electronic Materials CMP Inc.							Delaware
					Rohm and Haas Electronic Materials CMP Asia Inc.						Delaware
						Nitta Haas Trading Company					Japan
						Rohm and Haas Electronic Materials CMP Korea Ltd.					Korea
						Rohm and Haas Electronic Materials CMP Sdn. Bhd.					Malaysia
					Rohm and Haas Electronic Materials CMP Holdings, Inc.						Delaware
					Rohm and Haas International Holdings Inc.						Delaware
						Dow Chemical Singapore Holdings Pte. Ltd.					Singapore
							Dow Chemical (Australia) Pty Ltd				Australia
								Dow Australia Superannuation Fund Pty Limited			Australia
							Dow Chemical (NZ) Limited				New Zealand
							Dow Chemical Korea Limited				Korea
							Rohm and Haas Asia Holdings B.V.				Netherlands
								Dow Chemical OLED Ltd.			Korea
								Rohm and Haas Electronic Materials Asia-Pacific Co., Ltd.			Taiwan
								Rohm and Haas Electronic Materials Korea Ltd.			Korea
								Rohm and Haas Japan Holdings YK			Japan
									Nitta Haas Incorporated		Japan
										Rodel Particles, Inc.	Japan
								Rohm and Haas Taiwan, Inc.			Taiwan
				Rohm and Haas Electronic Materials LLC							Delaware
					Lightscape Materials, Inc.						Delaware
					Rohm and Haas Equity Corporation						Delaware
			Rohm and Haas Latin America, Inc.								Delaware
				Rohm and Haas Chemicals LLC							Delaware
		Rohm and Haas Investment Holdings Inc.									Delaware
		Rohm and Haas New Zealand Limited									New Zealand
		Rohm and Haas Philippines, Inc.									Philippines
		Rohm and Haas Quimica Ltda.									Brazil
			Bee Chemical Industria e Comercio Ltda.								Brazil
		Rohm and Haas Southeast Asia, Inc.									Delaware
		Shipley Brazil Productos Quimicos Ltda.									Brazil
	SAFECHEM North America LLC										Delaware
	Sentrachem US, Inc.										Delaware
		Hampshire Holdings, Inc.									Delaware
			Hampshire Chemical Corp.								Delaware
	Siam Polystyrene Company Limited (1)										Thailand
	Siam Styrene Monomer Co., Ltd. (1)										Thailand
	Siam Synthetic Latex Company Limited (1)										Thailand
	TCM Technologies Inc.										Delaware
	TDCC Subsidiary C, Inc.										Delaware
		Univation Technologies, LLC									Delaware
			Univation Technologies (Hong Kong) Limited								Hong Kong
				Univation (Zhangjiagang) Chemical Company Limited							China
			Univation Technologies International, LLC								Delaware
	Texas LNG Holdings LLC										Delaware
	Tianjin Panda Terminal Holdings Pte. Ltd.										Singapore
		Tianjin Panda Terminal (Hong Kong) Limited									Hong Kong
			Tianjin Panda Terminal Company Limited								China
	Union Carbide Corporation										New York
		Amerchol Corporation									Delaware

171

					Subsidiaries of The Dow Chemical Company	EXHIBIT 21
At December 31, 2015
						Location*
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
			Benefit Capital Management Corporation			Delaware
			Calidria Corporation			Delaware
			Carbide Chemical (Thailand) Limited			Thailand
			Catalysts, Adsorbents & Process Systems, Inc.			Maryland
			Dow International Holdings Company			Delaware
			Dow Quimica Argentina S.A.			Argentina
			Dow Quimica Mexicana S.A. de C.V.			Mexico
			Global Industrial Corporation			New York
			Industrias Carlisil, S.A.			Mexico
			Peñuelas Technology Park LLC			Delaware
			Seadrift Pipeline Corporation			Delaware
			Servicios de Quimicos Agricolas, S. A.			Mexico
			South Charleston Sewage Treatment Company			West Virginia
			UC Finco Inc.			Delaware
			UCAR Emulsion Systems International, Inc.			Delaware
				UCAR Emulsion Systems FZE		Dubai
			UCAR Interam Inc.			Delaware
			UCAR Louisiana Pipeline Company			Delaware
			UCAR Pipeline Incorporated			Delaware
			UCMG LLC			Delaware
			Umetco Minerals Corporation			Delaware
				Australia and New Zealand Exploration Company		Delaware
				Blue Creek Coal Company, Inc.		Delaware
				Predate Properties (Pty) Ltd.		South Africa
				Umetco Minerals Exploration Corporation		Delaware
			Union Carbide Asia Limited			Hong Kong
			Union Carbide Asia Pacific, Inc.			Delaware
			Union Carbide Chemicals & Plastics Technology LLC			Delaware
				Dow Technology Investments LLC		Delaware
			Union Carbide Customer Services Pte. Ltd.			Singapore
			Union Carbide Ethylene Oxide/Glycol Company			Delaware
			Union Carbide Inter-America, Inc.			Delaware
				Dow Peru S.A.		Peru
				Dow Quimica Chilena S.A.		Chile
			Union Carbide Middle East Limited			Delaware
			Union Carbide Pan America, Inc.			Delaware
				Dow Quimica Argentina S.A.		Argentina
				Dow Quimica Chilena S.A.		Chile
			Union Carbide Philippines (Far East), Inc.			Philippines
			Union Carbide Polyolefins Development Company, Inc.			Delaware
			Union Carbide South Africa (Proprietary) Limited			South Africa
			Union Carbide Subsidiary Q Inc.			Delaware
			Union Carbide Wire & Cable Company, Inc.			Delaware
			Union Polymers Sdn. Bhd.			Malaysia
			UNISON Transformer Services, Inc.			Delaware
			Westbridge Insurance Ltd.			Vermont
	U.S. Laboratories, Inc.					Ohio
			Administrative Business Systems, Inc.			Ohio
			POLY-CARB, Inc.			Ohio
	Warbler I LLC					Delaware
	*		Location of incorporation or organization. Primary location of organization is reported for partnerships.
(1		)	These companies are 50 percent owned, nonconsolidated affiliates of The Dow Chemical Company and are accounted for on the equity basis. Separate financial statements for these companies are not included in this Annual Report on Form 10-K. These companies are not controlled, directly or indirectly, by The Dow Chemical Company. Subsidiaries of these companies, if any, are not listed in this Exhibit 21.

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