EX-21 4 a2072240zex-21.htm SUBSIDIARIES OF THE DOW CHEMICAL CO.
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EXHIBIT 21


Subsidiaries of The Dow Chemical Company
At December 31, 2001

 
   Location*
   % Ownership
The Dow Chemical Company   Delaware    
  Arabian Chemical Company Limited(1)   Saudi Arabia   50
  Arabian Chemical Company (Latex) Ltd.(1)   Saudi Arabia   50
  Arakawa Europe GmbH   Germany   60
  CanStates Holdings, Inc.   Oklahoma   100
    ANGUS Chemical Company   Delaware   100
      ANGUS Chemie GmbH   Germany   100
  CD Polymers Inc.   Delaware   100
    Cargill Dow LLC(1)   Delaware   50
  Centen Ag Inc.   Delaware   100
    Dow AgroSciences LLC(11)   Delaware   39
    Mycogen Corporation(19)   California   12
  Chemars Inc.   Delaware   100
  DC Partnership Management Inc.   Delaware   100
    DowBrands L.P.(6)   Delaware   42
  DCOMCO, Inc.   Delaware   100
  DCU/LB Trust(1)   California   50
  Denmerco Inc.   Delaware   100
  Dexco Polymers(1)   Texas   50
  Diamond Capital Management Inc.   Delaware   100
  Diamond Technology Partnership Company   Delaware   100
    Chemtech Portfolio Inc.(13)   Texas   67
  Dofinco, Inc.   Delaware   100
  Dow Centroamerica, Sociedad Anonima   Costa Rica   100
  Dow Chemical (Australia) Limited   Australia   100
    Dow Australia Superannuation Fund A Pty Limited   Australia   100
    Polystyrene Australia Pty Ltd(1)   Australia   50
  Dow Chemical Canada Inc.(22)   Canada   89
    1069284 Ontario Inc.   Canada   100
    1165870 Ontario Corp.   Canada   100
    The Alberta & Orient Glycol Company Limited(1)   Canada   50
    Dow BioProducts Ltd.   Canada   100
    DowBrands Canada Inc.   Canada   100
      DBCI Financial LLC   Delaware   100
      Emerald Financial SrL   Barbados   100
      3813991 Canada Inc.   Canada   100
      Modeland International Holdings Inc.(35)   Barbados   59
        Dow Quimica S.A.   Brazil   100
          Branco Dow Compostos de Engenharia S.A.(1)   Brazil   50
          Dopec Industria E Comercio Ltda.   Brazil   100
          Dow Especialidades Quimicas Ltda.   Brazil   100
          Dow Quimica do Nordeste LTDA.   Brazil   100
          EDN-Estireno do Nordeste S.A.   Brazil   91
            EDN-Distribuidora do Nordeste Ltda.   Brazil   100

96

            EDN-Poliestireno do sul Limitada   Brazil   100
          Isopol Produtos Quimicos S.A.   Brazil   100
          Keytil Sociedad Anonima   Uruguay   100
          Primera-Industria e Comercio Ltda.   Brazil   100
          Spuma Pac-Industria de Embalagens Ltda.   Brazil   100
          Union Carbide Quimica Ltda.   Brazil   100
            Cambricos de Uruguay S.A.   Uruguay   100
            Companhia Alcoolquimica Nacional   Brazil   95
            Union Carbide do Brasil S/A   Brazil   73
    Fort Saskatchewan Ethylene Storage Limited Partnership(1)   Canada   50
    H-D Tech Inc.(1)   Canada   50
    Petromont and Company Limited Partnership(1)   Canada   50
    Petromont Inc.(1)   Canada   50
    Shawinigan Pipeline Reg'd(1)   Canada   50
    Union Carbide Performance Plastics Corp.   Canada   100
  Dow Chemical (China) Investment Company Limited   China   100
    Dow Chemical (Zhangjiagang) Co., Ltd.(16)   China   40
    Dow S/B Latex (Zhangjiagang) Co. Ltd.(15)   China   10
    SAL Petrochemical (Zhangjiagang) Company Limited(1)(18)   China   10
  Dow Chemical (China) Ltd.   Delaware   100
  Dow Chemical Delaware Corp.   Delaware   100
    Chemtech II L.P.(8)   Delaware   73
      Chemtech Portfolio Inc.(13)   Texas   33
      Chemtech Portfolio II Inc.   Michigan   100
  Dow Chemical (Hong Kong) Limited   Hong Kong   100
  Dow Chemical International Ltd.   Delaware   100
    Buna Sow Leuna Olefinverbund GmbH(28)   Germany   5
    Dow Chemical Thailand Ltd.   Thailand   100
    Dow International Holdings General Partnership(30)   Bermuda   1
    Hobbes Capital S.A.(39)   Luxembourg   48
    Petroquimica-Dow S.A. (Petrodow)   Chile   70
  Dow Chemical Japan Limited(10)   Japan   89
    Dow Polyurethanes Japan Ltd.   Japan   100
  Dow Chemical Korea Limited   Korea   100
  Dow Chemical (NZ) Limited   New Zealand   100
  Dow Chemical Pacific Limited   Hong Kong   100
    Ulsan Pacific Chemical Corporation(14)   Korea   80
  Dow Chemical Pacific (Singapore) Private Limited   Singapore   100
    Dow Chemical (Guangzhou) Company Limited   China   100
    Dow Chemical (India) Holdings Private Limited   India   100
      Dow Chemical International Pvt. Ltd.   India   100
    Dow Financial Holdings Singapore Pte Ltd.   Singapore   100
      Dow Chemical (Zhangjiagang) Co., Ltd.(16)   China   60
      Dow S/B Latex (Zhangjiagang) Co. Ltd.(15)   China   90
      SAL Petrochemical (Zhangjiagang) Company Limited(1)(18)   China   40
    G.Z. Holdings Pte. Ltd.   Singapore   100
    PT Dow Chemical Indonesia(23)   Indonesia   15
    S.H.A. Holdings Pte. Ltd.   Singapore   100
  Dow Chemical (Singapore) Private Limited   Singapore   100

97

  Dow Chemical Taiwan Limited   Republic of China   100
  Dow Chemical Telecommunications Corp.   Delaware   100
  Dow Credit Corporation   Delaware   100
  Dow Deutschland Inc.   Delaware/Germany   100
    Dow Chemical Inter-American Limited   Delaware   100
      Dow Quimica de Colombia S.A.(5)   Colombia   10
    Dow Deutschland GmbH   Germany   100
      Dow Deutschland GmbH & Co. OHG(9)   Germany   1
    Dow Deutschland GmbH & Co. OHG(9)   Germany   4
      Epoxital S.R.L.(1)   Italy   50
    Dow International Holdings S.A.(34)   Switzerland   19
    Safechem Umwelt Service GmbH   Germany   100
  Dow Engineering Company   Delaware   100
    Dow Engineering, Inc.   Michigan   100
  Dow Environmental Inc.   Delaware   100
  Dow Financial Holdings Inc.   Delaware   100
    Dow Holdings Inc.   Delaware   100
      Dow Corning Corporation(1)   Michigan   50
      Dow Hydrocarbons and Resources Inc.   Delaware   100
        Cayuse Pipeline, Inc.   Texas   100
        Dow Intrastate Gas Company   Louisiana   100
        Dow Pipeline Company   Texas   100
        Midland Pipeline Corp.   Delaware   100
          Fort Saskatchewan Ethylene Storage Corporation(1)   Canada   50
        Oasis Pipeline Company(1)   Delaware   50
    DowBrands L.P.(6)   Delaware   58
  Dow Financial Services Inc.   Delaware   100
  Dow International B.V.   Netherlands   100
  Dow International Holdings Company   Delaware   100
  Dow International Holdings S.A.(34)   Switzerland   73
    Dow International Holdings General Partnership(30)   Bermuda   99
        Dow Europe Holding N.V.   Netherlands   100
          Buna Sow Leuna Olefinverbund GmbH(28)   Germany   95
            BSL Pipeline Gesellschaft mbH & Co. KG   Germany   80
            BSL Pipeline Verwaltungsgesellschaft mbH   Germany   80
          Dow Austria Ges. mbH   Austria   100
          Dow Belgium B.V.B.A   Belgium   100
            Dolpa S.a.r.l.   Luxembourg   100
              Dow International Service Center B.V.B.A(24)   Belgium   1
            Dow International Service Center B.V.B.A(24)   Belgium   99
          Dow Benelux N.V.   Netherlands   100
            Dow Netwerk B.V.   Netherlands   100
            Emergo Finance C.V.(1)   Netherlands   50
            Emergo Manufacturing C.V.(21)   Netherlands   89
            Inkoopcombinatie ELSTA V.O.F.(1)   Netherlands   50
            Polyol Belgium B.V.B.A.(12)   Belgium   99
            Rofan Automation and Information Systems B.V.   Netherlands   100
            Terneuzen EPE Train 3 B.V.   Netherlands   100

98

              EPE Train 3 Finance C.V.(1)   Netherlands   50
            Terneuzen Partnership Services B.V.   Netherlands   100
              Emergo Manufacturing C.V.(21)   Netherlands   11
          Dow Chemical Company Limited   United Kingdom   100
            Cromarty Petroleum Company Limited(1)   United Kingdom   50
          Dow Chemical Iberica S.L.   Spain   99
          Dow Chemical OOO   Russia   100
          Dow Deutschland Beteiligungsgesellschaft mbH   Germany   100
          Dow Deutschland Holding GmbH & Co. KgaA   Germany   100
            Dow Deutschland GmbH & Co. OHG(9)   Germany   95
          Dow Europe GmbH   Switzerland   100
            Advanced Design Concepts GmbH(1)   Germany   50
            Dow Export GmbH   Switzerland   100
            Dow Mideast Systems (JSC)(2)   Egypt   1
            Dow Turkiye A.S.(3)   Turkey   1
          Dow France S.A.S.   France   100
          Dow Hellas A.E.   Greece   100
          Dow Hungary Kft.(36)   Hungary   99
          Dow InterBranch B.V.   Netherlands   100
            Dow Danmark A/S   Denmark   100
            Dow Hungary Kft.(36)   Hungary   1
            Dow Norge A/S   Norway   100
            Union Carbide Benelux N.V.(31)   Belgium   1
          Dow Italia SpA   Italy   100
            Dow Poliuretani Italia s.r.l   Italy   100
          Dow Mideast Systems (JSC)(2)   Egypt   99
          Dow Polska Sp.z.o.o.   Poland   100
          Dow Portugal—Produtos Quimicos, Unipessoal, Lda.   Portugal   100
          Dow Southern Africa (Pty) Ltd.   South Africa   100
          Dow Suomi OY   Finland   100
          Dow Sverige AB   Sweden   100
            Union Carbide Norden AB   Sweden   100
          Dow Turkiye A.S.(3)   Turkey   99
          Ginger B.V.(1)   Netherlands   50
          Pacific Epoxy Company Ltd.   Korea   80
          Polyol Belgium B.V.B.A.(12)   Belgium   1
          Union Carbide Benelux N.V.(31)   Belgium   99
          Union Carbide Limited   United Kingdom   100
            Errany Limited   United Kingdom   100
            KTI Chemicals Limited   United Kingdom   100
  Dow International Financial Services   Ireland   100
    Dow Capital Public Limited Company   Ireland   100
  Dow International Mexicana S.A. de C.V.   Mexico   100
  Dow Investment Argentina S.A.   Argentina   100
    PBBPolisur S.A.   Argentina   72

99

  Dow Kakoh Kabushiki Kaisha   Japan   65
  Dow Quimica Argentina S.A.(32)   Argentina   88
  Dow Quimica Chilena S.A.(33)   Chile   90
  Dow Quimica de Colombia S.A.(5)   Colombia   90
  Dow Quimica Latin America S.A.   Uruguay   100
  Dow Quimica Mexicana S.A. de C.V.(26)   Mexico   85
  Dow South Africa Holdings (Pty.) Ltd.   South Africa   100
    Sentrachem Limited   South Africa   100
      Academy Plastic Specialists (Proprietary) Limited   South Africa   100
      African Amines (Propietary) Limited(1)   South Africa   50
      Aquachlor (Proprietary) Limited(1)   South Africa   50
      Chrome International South Africa (Pty) Limited(1)   South Africa   50
      Cisvaal (Proprietary) Limited   South Africa   100
      Dow Plastics Southern Africa (Pty) Ltd.   South Africa   100
      Invesen Finance (Pty) Ltd.   South Africa   100
      Jakkalsbessie Beleggings (EDMS) Bpk.   South Africa   100
      Mega Plastics Properties (Propietary) Limited   South Africa   100
      Minchem International Inc.   South Africa   100
      NCP Holdings Limited   Jersey Channel Islands   100
      Orchem (Proprietary) Limited   South Africa   70
      Safripol (Pty) Ltd.   South Africa   100
      Salt and Chemicals (Proprietary) Ltd.   Namibia   100
      Sentrachem Gardens (Pty) Ltd.   South Africa   100
      South African Polymer Holdings (Pty.) Ltd.   South Africa   100
      Surechem (Jersey) Insurance Company Limited   Jersey Channel Islands   100
      The Synthetic Latex Company (Pty.) Limited   South Africa   51
      Walvis Bay Salt Refiners (Proprietary) Limited   Namibia   100
  Dow Trading PRC Inc.   Delaware   100
  Dow Trading S.A.   Switzerland   100
  Dow Trent Limited   Great Britian   100
    Dow UK Limited   Great Britian   100
      Ascot plc   Great Britian   100
        Ascot Holdings Limited   United Kingdom   100
        Ascot Hotels Limited   Great Britian   100
        Ascot International Management Limited   Great Britian   100
          Haltermann Netherlands B.V.   Netherlands   100
            Ascot Luxembourg S.A.   Luxembourg   100
              Haltermann Ascot GmbH   Germany   100
                Esti Chem A/S   Denmark   100
                Haltermann AB   Sweden   100
                  Haltermann Norge AS   Norway   100
                Haltermann A/S   Denmark   100
                Haltermann GmbH   Germany   100
                  Unterstutzungsgesellschaft
Johann Haltermann GmbH(41)		   Germany   67

100

                Haltermann Limited   United Kingdom   100
                Haltermann N.V.   Belgium   100
                Haltermann SARL   France   100
                Haltermann Speyer GmbH   Germany   100
                  Unterstutzungsgesellschaft Johann Haltermann GmbH(41)   Germany   20
                Johann Haltermann GmbH & Co.   Germany   100
                Proresin Inc.   Delaware   100
                  CH Chemicals Inc.   Texas   100
                  Haltermann Ascot Inc.   Delaware   100
                  Haltermann Incorporated   Texas   100
                    Haltermann Products L.L.C.(37)   Texas   1
                    Johann Haltermann Ltd.(38)   Texas   1
                  Haltermann Products L.L.C.(37)   Texas   99
                  Johann Haltermann Ltd.(38)   Texas   99
                  Specified Fuels & Chemicals L.L.C.   Texas   100
                Reinhard Raffel GmbH   Germany   100
                Sunbird Products A/S   Denmark   100
                Unterstutzungsgesellschaft Johann Haltermann GmbH(41)   Germany   13
        Ascot Investments Limited   United Kingdom   100
          Ascot Chemicals Limited   United Kingdom   100
            Alpha Air Distribution Limited   United Kingdom   100
            Chemoxy Themehart   United Kingdom   100
            Mitchell Cotts Chemicals Limited   United Kingdom   100
              Pentagon Chemicals Limited   United Kingdom   100
              Plantas Industrailes Asociadas C.C.   Ecuador   100
            Suter Ash Limited   United Kingdom   100
          Dawmec Limited   United Kingdom   100
        Ascot Management Services Limited   United Kingdom   100
          Ascot Corporate Directors Limited   United Kingdom   100
          Ascot Pension Trustees Limited   United Kingdom   100
        Ascot Nominees Limited   United Kingdom   100
        Ascot Quest Trustee Limited   United Kingdom   100
        Ascot Real Estate Limited   United Kingdom   100

101

          Bellhaven Hotels Espana SA   United Kingdom   100
            Pontin Mallorca SA(40)   Spain   54
        Bury House Inns   United Kingdom   100
        Chirotec Technology Limited   United Kingdom   100
        ConSecFin B.V.   Holland   100
        Cotts and Company Limited   United Kingdom   100
        Ellesmere Port Properties Limited   United Kingdom   100
        Lynshield Limited(1)   United Kingdom   50
        Marclay Limited   United Kingdom   100
          Pontin Mallorca SA(40)   Spain   46
        Mitchell Cotts Transmissions Limited   United Kingdom   100
        Sagar-Richards Limited   United Kingdom   100
        St. Vincent's Limited   United Kingdom   100
        Suter Equipment Limited   United Kingdom   100
        Suter Limited   United Kingdom   100
          Ascot Commercial Limited   United Kingdom   100
          Ascot Group Finance Limited   United Kingdom   100
          Ascot Overseas Ltd.   United Kingdom   100
            Haltermann AG Hergiswil   Switzerland   100
            Reinhard Raffel Metallwarenfarik GmbH   Germany   100
            Suter France S.A.   France   100
              ETS Raffel Sarrebourg SA   France   100
          Ascot Refrigeration Limited   United Kingdom   100
          Ascot Underwriting Limited   Channel Islands   100
          Chemoxy International Limited   United Kingdom   100
          ICG (UK) Limited   United Kingdom   100
            Buildtape Limited   Spain   100
        Suter Underwriting   United Kingdom   100
  Dow Venezuela, C.A.(7)   Venezuela   80
  DowBrands Inc.(20)   Delaware   79

102

  DSL Holdings Inc.   Delaware   100
    Dow Reichhold Specialty Latex LLC(1)   Delaware   50
  El Dorado Terminals Company(1)   New Jersey   50
  Essex Chemical Corporation   New Jersey   100
  Essex Specialty Products, Inc.   New Jersey   100
    American Mortell Corporation   Texas   100
      Mortell Company   Delaware   100
    Anabond Essex India Private Limited(1)   India   50
    Essex Do Brasil Industria E Comercio Ltda.   Brazil   100
    Essex de Hermosillo, S.A. DE C.V.   Mexico   100
    Essex Specialty Products, Inc., Canada   Canada   100
    Essex Specialty Products Korea Limited   Korea   100
    Expandite-Essex Pty. Limited(1)   Australia   50
    Dow Automotive AG   Switzerland   100
      Core Products GmbH(1)   Switzerland   50
      Dow Automotive (Deutschland) GmbH   Germany   100
      Dow Automotive (Italia) s.r.l.   Italy   100
      Dow Automotive Romania S.A.   Italy   51
      Dow Automotive South Africa (Pty) Ltd.   South Africa   100
      Dow Automotive (UK) Limited   Great Britian   100
      Rovec Holding S.A.   France   100
        Dow Automotive (Espana) S.A.   Spain   100
        Dow Automotive France S.A.(29)   France   55
        Irema S.A.   Romania   100
          Dow Automotive France S.A.(29)   France   45
      Sound Alliance GmbH   Switzerland   60
    Selco Industria E Comercio S/A   Brazil   100
    Sound Alliance LLC   Delaware   60
    Wuhan Essex Chemical Co., Ltd.   China   51
  Etoxilados del Plata S.A.   Argentina   100
  FilmTec Corporation   Delaware   100
  Flexible Products Company   Georgia   100
    Flexible Products Company of Canada   Canada   100
    Flexible Products de Chile Limitada   Chile   95
  Forbanco Inc.   Delaware   100
  General Latex and Chemical Corporation   Massachusetts   100
    General Latex and Chemical Corporation (of Ga.)   Georgia   100
    General Latex and Chemical Corporation (of N.C.)   North Carolina   100
    General Latex and Chemical Corporation (of Ohio)   Ohio   100
    General Latex Canada Inc.   Canada   100
  Great Western Pipeline Company, Inc.   California   100
  Ifco Inc.   Delaware   100
    Chemtech II L.P.(8)   Delaware   5
  Ion Holdings LLC(25)   Delaware   60
    Ion Investments S.a.r.l.   Luxembourg   100
      Tornado Finance V.O.F.   Netherlands   60
  INCA International S.p.A.   Italy   80
  Innovase LLC(1)   California   50
  Intarsia Corporation   Delaware   99

103

  iVenturi, Inc.   Delaware   54
  Joliet Marine Terminal Trust Estate(1)   Illinois   50
  Liana Limited   Delaware   100
    Dorinco Insurance (Ireland) Limited   Ireland   100
    Dorinco Reinsurance Company   Michigan   100
    Dorintal Reinsurance Limited   Bermuda   100
    Timber Insurance Limited   Bermuda   100
  LG Dow Polycarbonate Limited(1)   Korea   50
  Neolytica, Inc.   Delaware   100
  PT Dow Chemical Indonesia(23)   Indonesia   85
  Productos Quimicos Peruanos S.A.   Peru   100
  Raven Group Ltd.   Delaware   85
  RavenWorks Ltd.   Delaware   85
  Rofan Services Inc.   Delaware   100
    DH Compounding Company(1)   Delaware   50
    Dow AgroSciences LLC(11)   Delaware   10
    Ion Holdings LLC(25)   Delaware   40
    Mycogen Corporation(19)   California   88
      Dow AgroSciences LLC(11)   Delaware   51
        Advanced AgriTraits LLC   Delaware   84
        Alsan Research(1)   Iowa   50
        Chemexport Inc.(1)   Cayman Islands   50
        Bayer DAS (Private) Limited(1)   Pakistan   50
        DERe Insurance Company   Vermont   100
        Dintec Agrichemicals LLC(1)   Delaware   50
        Dow AgroSciences Agricultural Products Limited   Mauritius   100
          DE-NOCIL Crop Protection Limited   India   76
        Dow AgroSciences B.V.   Netherlands   100
          Agrofarm Israel Ltd.   Israel   100
          Ambito DAS S.A.(1)   Argentina   50
          Chaco DAS S.A.(1)   Argentina   50
          Costa Galana DAS SA(1)   Argentina   50
          DAS Chemicals Southern Africa (Pty) Ltd.   South Africa   100
          DAS Ihara K.K.(1)   Japan   50
          DAS Ryosho Corporation   Japan   51
            AgLead KK   Japan   100
            Alphas Corporation   Japan   100
          Daser Agro SA(1)   Argentina   50
          Desab S.A.(1)   Argentina   50
          Dintec Agroquimica Produtos Quimicos, Lda.   Portugal   66
          Distribuidora de Agroquimicos del Sureste de la Republica S.A. de C.V.(1)   Mexico   50
          Dow AgroSciences (Malaysia) Sdn Bhd   Malaysia   100
          Dow AgroSciences (NZ) Limited   New Zealand   100
          Dow AgroSciences A.S.   Turkey   100
          Dow AgroSciences Argentina S.A.(27)   Argentina   62
            Corporacion de Inversiones Frutihorticolas S.A.   Argentina   100
          Dow AgroSciences Asia Sdn. Bhd.   Malaysia   100
          Dow AgroSciences Australia Limited   Australia   100

104

          Dow AgroSciences Bolivia S.A.   Bolivia   100
          Dow AgroSciences Canada Inc.   Canada   100
          Dow AgroSciences Chile S.A.   Chile   100
          Dow AgroSciences Costa Rica S.A.   Costa Rica   100
          Dow AgroSciences Danmark A/S   Denmark   100
          Dow AgroSciences de Colombia S.A.   Colombia   100
          Dow AgroSciences de Mexico S.A. de C.V.   Mexico   100
          Dow AgroSciences Export S.A.S.   France   100
          Dow AgroSciences GmbH   Germany   100
          Dow AgroSciences Guatemala S.A.   Guatemala   100
          Dow AgroSciences Iberica S.A.   Spain   100
          Dow AgroSciences Industrial Ltda.   Brazil   100
          Dow AgroSciences Limited   United Kingdom   100
          Dow AgroSciences Pacific Limited   Hong Kong   100
          Dow AgroSciences Paraguay S.A.   Paraguay   100
          Dow AgroSciences Polska Sp. z.o.o.   Poland   100
          Dow AgroSciences S.A.S.   France   100
            Dow AgroSciences Distribution S.A.S.   France   100
          Dow AgroSciences s.r.o.   Czech Republic   100
          Dow AgroSciences Sverige A/B   Sweden   100
          Dow AgroSciences Taiwan Ltd.   Republic of China   100
          Dow AgroSciences Technology GmbH   Switzerland   100
            Dow AgroSciences Switzerland S.A.   Switzerland   100
              Pytech Chemicals GmbH(1)   Switzerland   50
          Dow AgroSciences Uruguay S.A.   Uruguay   100
          Dow AgroSciences Venezuela C.A.   Venezuela   100
          Dow AgroSciences Vertriebsgesellschaft GmbH   Austria   100
          Dow Chemical Japan Limited(10)   Japan   11
          Fedea S.A.(1)   Argentina   50
          I.C.R.-Intermedi Chimici Ravenna S.p.A.(1)   Italy   50
          JV Agro S.A.(1)   Argentina   50
          Lima Delta Ltd.(1)   Israel   50
          P.T. Pacific Chemicals Indonesia   Indonesia   100
          Pentec-Produtos Quimicos, Lda.(1)   Portugal   50
          Rindes y Cultivos-DAS S.A.(1)   Argentina   50
          Ubajay-DAS S.A.(1)   Argentina   50
          Zoo-Agro de Venezuela, C.A.(1)   Venezuela   50
        Dow AgroSciences Barbados Limited   Barbados   100
        Dow AgroSciences China Ltd.   Delaware   100
        Dow AgroSciences International Ltd.   Delaware   100
          Dow AgroSciences (Thailand) Limited   Thailand   100
        Dow AgroSciences Southern Africa (Proprietary) Limited   South Africa   100
          Agroserve (Proprietary) Limited   South Africa   100
          Farmpak (Proprietary) Limited   South Africa   100
          Learstraat Beleggings (EDMS) Bpk.   South Africa   100
        DowBrands Inc.(20)   Delaware   21
        OCI DAS Co., Ltd.(1)   Korea   50

105

        DAS Agricultural Investment Holding Company Ltd.   Mauritius   100
          Nantong DAS Chemical Co., Ltd.   China   82
        Velsimex S.A. de CV(1)   Mexico   50
      Mycogen Crop Protection, Inc.   California   100
        Mycogen Far East Asia Corporation   California   100
        Mycogen S.A. de C.V.(4)   Mexico   99
        Parasitix Corporation   California   100
      Mycogen Plant Science, Inc.   Delaware   100
        Agrigenetics, Inc.   Delaware   100
          Agrigenetics Molokai LLC   Hawaii   100
          Dow AgroSciences Argentina S.A.(27)   Argentina   38
          Mycogen Canada Inc.   Canada   100
          Mycogen Seeds-Puerto Rico Corporation   Delaware   100
          Mycogen S.A. de C.V.(4)   Mexico   1
      Mycosub/BA, Inc.   Delaware   100
        MJT BA L.P.(1)   California   50
      Mycosub/BH, Inc.   Delaware   100
        MJT BH/BT L.P.(1)   California   50
      Phytogen Seed Company, LLC   Delaware   51
      Sementes Dow AgroSciences Ltda   Brazil   100
    Wenben Inc.   Delaware   100
      Dupont Dow Elastomers L.L.C.(1)   Delaware   50
  Scotdril Midland Inc.   Michigan   100
    Scotdril Offshore Company(17)   United Kingdom   2
  Scotdril Offshore Company(17)   United Kingdom   98
  Sentrachem US, Inc.   Delaware   100
    Hampshire Holdings, Inc.   Delaware   100
      Hampshire Chemical Corp.   Delaware   100
        Hampshire Chemical Finance Corp.   Delaware   100
  Styron Asia Limited(1)   Hong Kong   50
  Sumitomo Dow Limited.(1)   Japan   50
  TCM Technologies Inc.   Delaware   100
  Ulsan Pacific Chemical Corporation(14)   Korea   20
  Union Carbide Corporation   New York   100
    The African Manganese Company Limited   United Kingdom   100
    Amercian Acetyls(1)   Connecticut   50
    Amerchol Corporation   Delaware   100
    Benefit Capital Management Corporation   Delaware   100
    Calidria Corporation   Delaware   100
    Catalysts, Adsorbents & Process Systems, Inc.   Maryland   100
      UOP LLC(1)   Delaware   50
    Chemars II LLC   Delaware   100
    Chemicals Marine Fleet, Inc.   Delaware   100
    Codim Desenvolvimento de Industrias Minerais Ltda   Brazil   100
    Dow Chemical Canada Inc.(22)   Canada   11
    Dow International Holdings S.A.(34)   Switzerland   8
    Dow Pacific (Thailand) Limited   Thailand   100

106

      Excellent Quality (Thailand) Company Limited   Thailand   100
    Dow Quimica Argentina S.A.(32)   Argentina   12
    Dow Quimica Chilena S.A.(33)   Chile   10
    Dow Quimica Mexicana S.A. de C.V.(26)   Mexico   15
    Dow Venezuela, C.A.(7)   Venezuela   20
    EQUATE Marketing Company E.C.(1)   Bahrain   50
    GlenGate Insurance Brokers Limited   Ireland   100
    Global Industrial Corporation   New York   100
    Industrias Carlisil, S.A.   Mexico   100
    KTI Chemicals, Inc.   Delaware   100
    Mineracao Liguria Ltda.   Brazil   100
    Mineracao Sao Damaso Ltda.   Brazil   100
    Modeland International Holdings Inc.(35)   Barbados   41
    National Carbon Company Pakistan (Private) Limited   Pakistan   100
    Nippon Unicar Company Limited(1)   Japan   50
    Optimal Chemicals (Malaysia) Sdn. Bhd.(1)   Malaysia   50
    Prentiss Glycol Company   Delaware   100
    P.T. Union Carbide Indonesia   Indonesia   100
    Seadrift Pipeline Corporation   Delaware   100
    Servicios de Quimicos Agricolas, S. A.   Mexico   100
    South Charleston Sewage Treatment Company   West Virginia   100
    Union Carbide Marble Care, Inc.   Delaware   100
    UCAR Emulsion Systems International, Inc.   Delaware   100
      Dow UCAR Emulsion Systems FZE   Dubai   100
    UCAR Interam Inc.   Delaware   100
    UCAR Louisiana Pipeline Company   Delaware   100
    UCAR Pipeline Incorporated   Delaware   100
    UCAR Vanor Proprietary Limited   South Africa   100
    UCMG LLC   Delaware   100
      Optimal Glycols (Malaysia) Sdn. Bdn.(1)   Malaysia   50
    Umetco Minerals Corporation   Delaware   100
      Australia and New Zealand Exploration Company   Delaware   100
      Beaucar Minerals, Inc.   Delaware   100
      Blue Creek Coal Co, Inc.   Delaware   100
      Minbeau (Proprietary) Limited   South Africa   100
      Ore Sales & Services Limited   United Kingdom   100
      Predate Properties (Pty) Ltd.   South Africa   100
      Ruighoek Chrome Mines (Proprietary) Limited   South Africa   100
      UCEX (U.K.) Limited   United Kingdom   100
      UCORE Limited   Delaware   100
      UMETCO Reclamation Corporation   Delaware   100
      Umetco Minerals Exploration Corporation   Delaware   100
    UniGlobal Logistics, Inc.   Delaware   100
    Union Carbide Asia Limited   Hong Kong   100
      Shanghai Petrochemical Union Carbide Emulsion Systems Company Limited   Republic of China   63
      Union Carbide (Guangdong Zhongshan) Company Limited   Republic of China   75

107

    Union Carbide Asia Pacific, Inc.   Delaware   100
    Union Carbide Austria Ges.m.b.H.   Austria   100
    Union Carbide Canada Finance, Inc.   Canada   100
    Union Carbide Caribe LLC   Delaware   100
      UCAR Resinas Caribe Inc   Delaware   100
    Union Carbide Chemicals & Plastics Technology Corporation   Delaware   100
    Union Carbide Chemicals (Australia) Pty. Ltd.   Australia   100
    Dow Chemical (Malaysia) Sdn. Bhd.   Malaysia   100
    Union Carbide China Investment Co., Ltd.   Republic of China   100
      Guangdong Zhongshan Amerchol Specialty Chemicals   Republic of China   90
    Union Carbide Comercial Nicaragua, S.A.   Nicaragua   100
    Union Carbide Comercial, C.A.   Venezula   100
    Union Carbide Customer Services Pte. Ltd.   Singapore   100
    Union Carbide Czech Republic s.r.o.   Czech Republic   100
    Union Carbide Diagnostics, Inc.   Delaware   100
    Union Carbide Engineering & Hydrocarbons Service Company, Inc.   Delaware   100
    Union Carbide Ethylene Oxide/Glycol Company   Delaware   100
    Union Carbide Finance Corporation   Delaware   100
    Union Carbide Foreign Sales Corporation   Virgin Islands   100
    Union Carbide Formosa Company Ltd.   Taiwan   100
    Union Carbide Iberica, S.A.   Spain   100
    Union Carbide Imaging Systems, Inc   Delaware   100
    Union Carbide Inter-America, Inc.   Delaware   100
      Union Carbide de Guatemala, S.A.   Guatemala   100
    Union Carbide Inter-America, Inc.   New Jersey   100
    Union Carbide Italia S.r.l.   Italy   100
    Union Carbide Japan K.K.   Japan   100
    Union Carbide Middle East Limited   Delaware   100
    Union Carbide Pakistan (Private) Limited   Pakistan   60
    Union Carbide Pan America, Inc.   Delaware   100
      Dow Quimica Argentina S.A.(32)   Argentina   1
      Dow Quimica Chilena S.A.(33)   Chile   1
    Dow Chemical Philippines, Inc.   Philippines   100
    Union Carbide Poland Sp. z.o.o.   Poland   100
    Union Carbide Polyolefins Development Company, Inc.   Delaware   100
    Union Carbide South Africa (Proprietary) Limited   South Africa   100
    Union Carbide Subsidiary C, Inc   Delaware   100
      Univation Technologies, LLC(1)   Delaware   50
    Union Carbide Subsidiary M, Inc.   Delaware   100
    Union Carbide Subsidiary Y, Inc.   Delaware   100
    Union Carbide Subsidiary Z, Inc.   Delaware   100
    Union Carbide Turkey, Inc.   Delaware   100
    Union Carbide Wire & Cable Company, Inc.   Delaware   100
      ASPELL Polymeres SNC(1)   France   50
    Union Polymers Sdn. Bhd.   Malaysia   60
    UNISON Transformer Services, Inc.   Delaware   100
    Westbridge Insurance Ltd.   Bermuda   100

108

    World Ethanol Company(1)   Illinois   50
  Warbler I LLC   Delaware   100
  Yokkaichi MDI Limited(1)   Japan   50
  Zhejiang Pacific Chemical Corporation   China   100
*
Location of incorporation or organization. Primary location of organization is reported for partnerships.

109

(1)   These companies are 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 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.

(2)
 
The Dow Chemical Company effective ownership of Dow Mideast Systems (JSC) is 100% of which Dow Europe Holding N.V. owns 99.93% and Dow Europe GmbH owns .07%.

(3)
 
The Dow Chemical Company effective ownership of Dow Turkiye A.S. is 100% of which Dow Europe Holding N.V. owns 99.87% and Dow Europe GmbH owns .13%.

(4)
 
The Dow Chemical Company effective ownership of Mycogen S.A. de C.V. is 100% of which Mycogen Crop Protection, Inc. owns 99% and Agrigenetics, Inc. owns 1%.

(5)
 
The Dow Chemical Company effective ownership of Dow Quimica de Colombia S.A. is 100% of which The Dow Chemical Company owns 90% and Dow Chemical Inter-American Limited owns 10%.

(6)
 
The Dow Chemical Company effective ownership of DowBrands L.P. is 100% of which Dow Financial Holdings Inc. owns 58% and DC Partnership Management Inc. owns 42%.

(7)
 
The Dow Chemical Company effective ownership of Dow Venezuela, C.A. is 100% of which The Dow Chemical Company owns 80.39% and Union Carbide Corporation owns 19.61%.

(8)
 
The Dow Chemical Company effective ownership of Chemtech II L.P. is 78% of which Dow Chemical Delaware Corp. owns 72.46% and Ifco Inc. owns 5.15%.

(9)
 
The Dow Chemical Company effective ownership of Dow Deutschland GmbH & Co. OHG is 100% of which Dow Deutschland Holding GmbH & Co. KgaA owns 94.9%, Dow Deutschland Inc. owns 4.1% and Dow Deutschland GmbH owns 1%.

(10)
 
The Dow Chemical Company effective ownership of Dow Chemical Japan Limited is 100% of which The Dow Chemical Company owns 89% and Dow AgroSciences B.V. owns 11%.

(11)
 
The Dow Chemical Company effective ownership of Dow AgroSciences LLC is 100% of which Rofan Services Inc. owns 10%, Centen Ag Inc. owns 39% and Mycogen Corporation owns 51%.

(12)
 
The Dow Chemical Company effective ownership of Polyol Belgium B.V.B.A. is 100% of which Dow Benelux N.V. owns 99.5% and Dow Europe Holding N.V. owns .5%.

(13)
 
The Dow Chemical Company effective ownership of Chemtech Portfolio Inc. is 93% of which Diamond Technology Partnership Company owns 67% and Chemtech II L.P. owns 33% (see Note 8 for Chemtech II L.P. to calculate The Dow Chemical Company effective ownership of 26%).

(14)
 
The Dow Chemical Company effective ownership of Ulsan Pacific Chemical Corporation is 100% of which Dow Chemical Pacific Limited owns 80% and The Dow Chemical Company owns 20%.

(15)
 
The Dow Chemical Company effective ownership of Dow S/B Latex (Zhangjiagang) Co. Ltd. is 100% of which Dow Chemical (China) Investment Company Limited owns 10% and Dow Financial Holdings Singapore Pte Ltd. owns 90%.

(16)
 
The Dow Chemical Company effective ownership of Dow Chemical (Zhangjiagang) Co., Ltd. is 100% of which Dow Chemical (China) Investment Company Limited owns 40.31% and Dow Financial Holdings Singapore Pte Ltd. owns 59.69%.

 
 
 

110


(17)
 
The Dow Chemical Company effective ownership of Scotdril Offshore Company is 100% of which The Dow Chemical Company owns 98% and Scotdril Midland Inc. owns 2%.

(18)
 
The Dow Chemical Company effective ownership of SAL Petrochemical (Zhangjiagang) Company Limited is 50% of which Dow Chemical (China) Investment Company Limited owns 10% and Dow Financial Holdings Singapore Pte Ltd. owns 40%.

(19)
 
The Dow Chemical Company effective ownership of Mycogen Corporation is 100% of which Centen Ag. Inc. owns 11.9% and Rofan Services Inc. owns 88.1%.

(20)
 
The Dow Chemical Company effective ownership of DowBrands Inc. is 100% of which Dow AgroSciences LLC owns 21% and The Dow Chemical Company owns 79%.

(21)
 
The Dow Chemical Company effective ownership of Emergo Manufacturing C.V. is 100% of which Terneuzen Partnership Services B.V. owns 11% and Dow Benelux N.V. owns 89%.

(22)
 
The Dow Chemical Company effective ownership of Dow Chemical Canada Inc. is 100% of which The Dow Chemical Company owns 88.8% and Union Carbide Corporation owns 11.2%.

(23)
 
The Dow Chemical Company effective ownership of PT Dow Chemical Indonesia is 100% of which The Dow Chemical Company owns 84.6% and Dow Chemical Pacific (Singapore) Private Limited owns 15.4%.

(24)
 
The Dow Chemical Company effective ownership of Dow International Service Center B.V.B.A is 100% of which Dow Belgium B.V.B.A. owns 99.9975% and Dolpa S.a.r.l. owns .0025%.

(25)
 
The Dow Chemical Company effective ownership of Ion Holdings LLC is 100% of which The Dow Chemical Company owns 60% and Rofan Services Inc. owns 40%.

(26)
 
The Dow Chemical Company effective ownership of Dow Quimica Mexicana S.A. de C.V. is 100% of which The Dow Chemical Company owns 84.58% and Union Carbide Corporation owns 15.42%.

(27)
 
The Dow Chemical Company effective ownership of Dow AgroSciences Argentina S.A. is 100% of which Dow AgroSciences B.V. owns 62.4% and Agrigenetics, Inc. owns 37.6%.

(28)
 
The Dow Chemical Company effective ownership of Buna Sow Leuna Olefinverbund GmbH is 100% of which Dow Europe Holding N.V. owns 94.9% and Dow Chemical International Ltd. owns 5.1%.

(29)
 
The Dow Chemical Company effective ownership of Dow Automotive France S.A. is 100% of which Rovec Holding S.A. owns 55% and Irema S.A. owns 45%.

(30)
 
The Dow Chemical Company effective ownership of Dow International Holdings General Partnership is 100% of which Dow International Holdings S.A. owns 99.92% and Dow Chemical International Ltd. owns .08%.

(31)
 
The Dow Chemical Company effective ownership of Union Carbide Benelux N.V. is 100% of which Dow Europe Holding N.V. owns 99.65% and Dow InterBranch B.V. owns 0.35%.

(32)
 
The Dow Chemical Company effective ownership of Dow Quimica Argentina S.A. is 100% of which The Dow Chemical Company owns 87.89%, Union Carbide Corporation owns 11.99% and Union Carbide Pan America, Inc. owns 0.12%.

(33)
 
The Dow Chemical Company effective ownership of Dow Quimica Chilena S.A. is 100% of which The Dow Chemical Company owns 89.79%, Union Carbide Corporation owns 10% and Union Carbide Pan America Inc. owns 0.04%.

 
 
 

111


(34)
 
The Dow Chemical Company effective ownership of Dow International Holdings S.A. is 100% of which The Dow Chemical Company owns 72.38%, Union Carbide Corporation owns 8.31% and Dow Deutschland Inc. owns 19.31%.

(35)
 
The Dow Chemical Company effective ownership of Modeland International Holdings Inc. is 100% of which DowBrands Canada Inc. owns 59% and Union Carbide Corporation owns 41%.

(36)
 
The Dow Chemical Company effective ownership of Dow Hungary Kft. is 100% of which Dow Europe Holding N.V. owns 99.98% and Dow InterBranch B.V. owns .2%.

(37)
 
The Dow Chemical Company effective ownership of Haltermann Products L.L.C. is 100% of which Proresin Inc. owns 99% and Haltermann Incorporated owns 1%.

(38)
 
The Dow Chemical Company effective ownership of Johann Haltermann Ltd. is 100% of which Proresin Inc. owns 99% and Haltermann Incorporated owns 1%.

(39)
 
The Dow Chemical Company effective ownership of Hobbes Capital S.A., a fully consolidated entity, is 48%.

(40)
 
The Dow Chemical Company effective ownership of Pontin Mallorca SA is 100% of which Bellhaven Hotels Espana SA owns 54% and Marclay Limited owns 46%.

(41)
 
The Dow Chemical Company effective ownership of Unterstutzungsgesellschaft Johann Haltermann GmbH is 100% of which Haltermann GmbH owns 67%, Haltermann Speyer GmbH owns 20% and Haltermann Ascot GmbH owns 13%.

112



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Subsidiaries of The Dow Chemical Company At December 31, 2001