Subsidiaries of The Dow Chemical Company.

EX-21 3 dex21.htm SUBSIDIARIES OF THE DOW CHEMICAL COMPANY. Subsidiaries of The Dow Chemical Company.

EXHIBIT 21

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
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		50
Arabian Chemical Company (Polystyrene) Limited (1)	Saudi Arabia		50
Battleground Water Company (73)	Texas		9
Buildscape, LLC	Delaware		100
CanStates Holdings Inc.	Oklahoma		100
ANGUS Chemical Company	Delaware		100
CD Polymers Inc.	Delaware		100
Centen Ag Inc.	Delaware		100
Dow AgroSciences LLC (9)	Delaware		39
DowBrands Inc. (14)	Delaware		8
Mycogen Corporation (13)	California		12
Chemars III LLC	Delaware		100
Chemtech II L.P. (8)	Delaware		22
DC Partnership Management Inc.	Delaware		100
DowBrands L.P. (6)	Delaware		42
DCOMCO, Inc.	Delaware		100
Denmerco Inc.	Delaware		100
Dexco Polymers Operating Company LLC (1)	Texas		50
Dexco Polymers LP (1) (18)	Texas		1
Diamond Capital Management Inc.	Delaware		100
DML Holding Inc. (30)	Delaware		89
Rohm and Haas Canada Investments Inc./Placements Rohm et Haas Canada Inc. (56)	Canada		1
Dofinco, Inc.	Delaware		100
Dow Business Services LLC	Delaware		100
Dow Capital International LLC	Delaware		100
Dow Chemical (Australia) Limited	Australia		100
Dow Australia Superannuation Fund A Pty Limited	Australia		100
Dow Chemical (China) Investment Company Limited	China		100
Dow Chemical (China) Company Limited	China		100
Dow Chemical (Guangzhou) Company Limited	China		100
Dow Chemical (Shanghai) Company Limited	China		100
Dow Chemical (Zhangjiagang) Company Limited	China		100
Guangdong Zhongshan Amerchol Specialty Chemicals Co., Ltd.	China		90
Zhejiang Pacific Chemical Corporation	China		100
Dow Chemical China Holdings Pte. Ltd.	Singapore		100
Dow Chemical Delaware Corp.	Delaware		100
Chemtech II L.P. (8)	Delaware		73
Chemtech Portfolio Inc. (11)	Texas		33
Chemtech Portfolio II Inc.	Michigan		100
Dow Chemical International Ltd.	Delaware		100
Dow Chemical Thailand Ltd.	Thailand		100
Dow International Holdings Company (22)	Delaware		1
Dow International Holdings S.A. (77)	Switzerland		1
Pacific Plastics (Thailand) Limited (41)	Thailand		51
Petroquimica-Dow S.A. (Petrodow)	Chile		100
Dow Chemical Korea Limited (34)	Korea		86
Dow Chemical (NZ) Limited	New Zealand		100
Dow Chemical Pacific Limited	Hong Kong		100
Dow Chemical Pacific (Singapore) Private Limited	Singapore		100
Dow Chemical (Malaysia) Sdn. Bhd.	Malaysia		100
Dow Chemical International Pvt. Ltd. (26)	India		99
Dow Chemical Vietnam LLC	Vietnam		100
PT Dow Indonesia (65)	Indonesia		99
Dow Chemical (Singapore) Private Limited	Singapore		100
Dow Chemical International Pvt. Ltd. (26)	India		1
PT Dow Indonesia (65)	Indonesia		1

176

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
Dow Chemical Taiwan Limited	Taiwan		100
Dow Chemical Telecommunications Corp.	Delaware		100
Dow Credit Corporation	Delaware		100
Dow Customs & Trade LLC	Delaware		100
Dow Deutschland Inc.	Delaware		100
Dow Chemical Inter-American Limited	Delaware		100
Dow Quimica de Colombia S.A. (5)	Colombia		10
Dow Deutschland Management Inc.	Delaware		100
Dow Engineering Company	Delaware		100
Dow Engineering, Inc.	Michigan		100
Dow Environmental Inc.	Delaware		100
Dow Financial Services Inc.	Delaware		100
Dow Global Technologies LLC	Delaware		100
Chemtech Portfolio Inc. (11)	Texas		67
Stonehenge Community Development XVII, LLC	Delaware		99
Dow Petrochemicals Holding LLC (42)	Delaware		25
Daulat Holdco LLC	Delaware		100
K-D Petrochemicals C.V. (1) (47)	Netherlands		1
K-Dow Petrochemicals GmbH (1)	Switzerland		50
K-D Petrochemicals C.V. (1) (47)	Netherlands		47
Dow Technology Investments LLC (37)	Delaware		50
Dow Holdings LLC	Delaware		100
Dow Corning Corporation (82)	Michigan		50
Dow Hydrocarbons and Resources LLC	Delaware		100
Cayuse Pipeline, Inc.	Texas		100
Dow Intrastate Gas Company	Louisiana		100
Dow Pipeline Company	Texas		100
K/D/S Promix, LLC (1)	Texas		50
Midland Pipeline Corp.	Delaware		100
Fort Saskatchewan Ethylene Storage Corporation (1)	Canada		50
Fort Saskatchewan Ethylene Storage Limited Partnership (1) (12)	Canada		1
DowBrands L.P. (6)	Delaware		58
Dow Internacional Mexicana S.A. de C.V.	Mexico		100
Dow International B.V.	Netherlands		100
Dow International Financial Services	Ireland		100
Dow Capital Public Limited Company	Ireland		100
Dow International Holdings Company (22)	Delaware		72
DC Spectrum Holding C.V. (38)	Netherlands		99
Coöperatieve DC Prisma Holding U.A. (39)	Netherlands		99
Dow Dutch Holding B.V.	Netherlands		100
DC Galaxy Holding C.V. (40)	Netherlands		1
Dow Europe Finance I B.V.	Netherlands		100
Dow International Holdings S.A. (77)	Switzerland		99
3243424 Nova Scotia Company	Canada		100
DC Galaxy Holding C.V. (40)	Netherlands		99
Dow Europe Holding B.V.	Netherlands		100
BASF DOW HPPO B.V. (1)	Netherlands		50
BASF DOW HPPO Technology B.V. (1)	Netherlands		50
Control Securities Finance (Consecfin) B.V.	Netherlands		100
DC Finance Canada B.V.	Netherlands		100
Domaluna B.V.	Netherlands		100
Dow Austria Gesellschaft m.b.H	Austria		100
Dow Belgium B.V.B.A.	Belgium		100
Dow Benelux B.V.	Netherlands		100
Dow Netwerk B.V.	Netherlands		100
Emergo Finance C.V. (1)	Netherlands		50
Polyol Belgium B.V.B.A. (10)	Belgium		99

177

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
Valuepark Terneuzen Beheer B.V. (1)	Netherlands		50
Valuepark Terneuzen C.V. (1) (25)	Netherlands		1
Dow Beteiligungsgesellschaft mbH & Co. KG	Germany		100
Dow Olefinverbund GmbH (44)	Germany		5
Dow Chemical Company Limited	United Kingdom		100
Autothane Limited	United Kingdom		100
Cromarty Petroleum Company Limited (1)	United Kingdom		50
Dow Chemical Services UK Limited	United Kingdom		100
Dow Services Trustees UK Limited	United Kingdom		100
Hyperlast Limited	United Kingdom		100
ALH Rail Coatings Limited (1)	United Kingdom		50
Hypertec Print Services Limited	United Kingdom		100
Xitrack Limited (1)	United Kingdom		50
Dow Chemical East Africa Limited (79)	Kenya		90
Dow Chemical Iberica S.L.	Spain		99
Terminal de Atraque de Productos Petroquimicos, AIE (1)	Spain		50
Transformadora de Etileno A.I.E. (1)	Spain		50
Dow Chemical Korea Limited (34)	Korea		14
Dow Chemical OOO	Russia		100
Dow Chemical Romania S.R.L.	Romania		100
Dow Deutschland Verwaltungs Vertriebs GmbH	Germany		100
Dow Deutschland Vertriebs GmbH & Co. OHG (76)	Germany		30
Dow Europe GmbH	Switzerland		100
Dolpa S.a.r.l.	Luxembourg		100
Dow-GACL SolVenture Limited (1)	India		50
Dow Chemical IMEA GmbH	Switzerland		100
Dow Contract Services FZE	Dubai		100
Dow Egypt Services Limited (43)	Egypt		25
Dow Mideast Systems S.A.E. (JSC) (2)	Egypt		1
Dow France S.A.S.	France		100
Dow Hellas A.E.	Greece		100
Dow Hungary Kft.	Hungary		100
Dow InterBranch B.V.	Netherlands		100
Business Process Service Center Terneuzen B.V.	Netherlands		100
Dow Chemical East Africa Limited (79)	Kenya		10
Dow Danmark A/S	Denmark		100
Dow Mideast Systems S.A.E. (JSC) (2)	Egypt		1
Dow Norge A/S	Norway		100
Dow Saudi Arabia Company (35)	Saudi Arabia		15
Dow Turkiye Kimya Sanayi ve Ticaret Limited Sirketi (3)	Turkey		1
Dow Zwijndrecht B.V.B.A. (19)	Belgium		1
Santa Vitoria Acucar e Alcool Ltda. (81)	Brazil		50
Dow Italia s.r.l.	Italy		100
Dow AgroSciences Italia s.r.l.	Italy		100
Dow Italia Divisione Commerciale s.r.l	Italy		100
Dow Mideast Systems S.A.E. (JSC) (2)	Egypt		98
Dow Egypt Services Limited (43)	Egypt		75
Dow Olefinverbund GmbH (44)	Germany		95
ANGUS Chemie GmbH	Germany		100
Dow Stade Produktions GmbH & Co. OHG (29)	Germany		30
Dow Wolff Cellulosics GmbH & Co. OHG (36)	Germany		50
Dow AgroSciences GmbH	Germany		100
Dow Deutschland Anlagengesellschaft mbH	Germany		100
Dow Wolff Cellulosics GmbH	Germany		100
Probis GmbH	Germany		100
UPPC GmbH	Germany		100
UPPC Ltd.	United Kingdom		100

178

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
Dow MF Verwaltungs GmbH	Germany		100
Dow MF Produktion GmbH & Co. OHG (74)	Germany		30
Dow Pipeline Gesellschaft mbH & Co. KG	Germany		80
Dow Pipeline Verwaltungsgesellschaft mbH	Germany		80
SAFECHEM Europe GmbH	Germany		100
Dow Deutschland Vertriebs GmbH & Co. OHG (76)	Germany		70
Dow MF Produktion GmbH & Co. OHG (74)	Germany		70
Dow Stade Produktions GmbH & Co. OHG (29)	Germany		70
Dow Wolff Cellulosics GmbH & Co. OHG (36)	Germany		50
Dow Plastics and Chemicals Holding B.V.	Netherlands		100
K-D Petrochemicals C.V. (1) (47)	Netherlands		1
Dow Polska Sp.z.o.o.	Poland		100
Dow Portugal - Produtos Quimicos, Unipessoal, Lda.	Portugal		100
Dow Saudi Arabia Company (35)	Saudi Arabia		85
Dow Southern Africa (Pty) Ltd	South Africa		100
Dow Suomi OY	Finland		100
Dow Sverige AB	Sweden		100
Dow Turkiye Kimya Sanayi ve Ticaret Limited Sirketi (3)	Turkey		99
Dow (Wilton) Limited	United Kingdom		100
Dow Zwijndrecht B.V.B.A. (19)	Belgium		99
Edulan A/S	Denmark		100
Edulan U.K. Limited	United Kingdom		100
HPPO Holding & Finance C.V. (1)	Netherlands		50
MEGlobal B.V. (1)	Netherlands		50
MTP HPJV C.V. (83)	Netherlands		50
MTP HPJV Management B.V. (83)	Netherlands		50
Oman Petrochemical Industries Company LLC (1)	Oman		50
Polyol Belgium B.V.B.A. (10)	Belgium		1
RUS Polyurethanes Holding B.V.	Netherlands		58
Dow Izolan OOO (45)	Russia		100
Dow Izolan Ukraine LLC (46)	Ukraine		100
UC Investment B.V.	Netherlands		100
EQUATE Marketing Company E.C. (1)	Bahrain		50
Rofan Automation and Information Systems B.V.	Netherlands		100
Terneuzen Partnership Services B.V.	Netherlands		100
Valuepark Terneuzen C.V. (1) (25)	Netherlands		49
Dow Netherlands Investments LLC	Delaware		100
Coöperatieve DC Prisma Holding U.A. (39)	Netherlands		1
Dow Netherlands Holdings LLC	Delaware		100
DC Spectrum Holding C.V. (38)	Netherlands		1
DowBrands Inc. (14)	Delaware		79
Dow International Technology Corporation	Delaware		100
Dow Kakoh Kabushiki Kaisha	Japan		65
Dow Pacific Holdings B.V.	Netherlands		100
Dow Peru S.A. (24)	Peru		91
Dow Petrochemicals Holding LLC (42)	Delaware		25
Dow Quimica Argentina S.A. (20)	Argentina		76
Dow Quimica Chilena S.A. (21)	Chile		89
Dow Quimica de Colombia S.A. (5)	Colombia		90
Dow Quimica Mexicana S.A. de C.V. (16)	Mexico		85
Dow Roofing Systems LLC	Delaware		100
Dow South Africa Holdings (Pty) Ltd.	South Africa		100
Sentrachem Limited	South Africa		100
Cisvaal (Proprietary) Limited	South Africa		100
Minchem International Inc.	South Africa		100
South African Polymer Holdings (PTY) Ltd.	South Africa		100
Dow Trading S.A.	Switzerland		100

179

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
Dow Trent Limited	United Kingdom		100
Dow UK Limited	United Kingdom		100
Haltermann Limited	United Kingdom		100
Ascot Investments Limited	United Kingdom		100
Ascot Chemicals Limited	United Kingdom		100
Haltermann Pension Trustees Limited	United Kingdom		100
Suter Limited	United Kingdom		100
Dow Venezuela, C.A. (7)	Venezuela		36
Dow Verwaltungsgesellschaft mbH	Germany		100
Dow-Mitsui Chlor-Alkali LLC (83)	Delaware		50
DSL Holdings Inc.	Delaware		100
Dow Reichhold Specialty Latex LLC (1)	Delaware		50
DW Dexco Investment LLC	Delaware		100
Dexco Polymers LP (1) (18)	Texas		49
Equipolymers B.V. (1)	Netherlands		50
Essex Chemical Corporation	New Jersey		100
Essex Specialty Products LLC	New Jersey		100
American Mortell Corporation	Texas		100
Mortell Company	Delaware		100
Dow Chemical (Wuhan) Company Limited	China		100
Dow International Holdings Company (22)	Delaware		8
GWN Holding, Inc. (31)	Delaware		27
FilmTec Corporation	Delaware		100
OMEX Overseas Holdings Inc.	Virgin Islands		100
Zhejiang OMEX Environmental Engineering Co., Ltd.	China		100
Flexible Products Company	Georgia		100
Flexible Products Company of Canada, Inc	Canada		100
Forbanco Inc.	Delaware		100
General Latex and Chemical Corporation	Massachusetts		100
GNS Enterprises, LLC	Georgia		100
GNS Technologies, LLC	Georgia		100
Great Western Pipeline Company, Inc.	California		100
GWN Holding, Inc. (31)	Delaware		66
Rohm and Haas Canada Investments Inc./Placements Rohm et Haas Canada Inc. (56)	Canada		92
3243425 Nova Scotia Company	Canada		100
Daulat Canada Holding LP (80)	Canada		1
Dow Canada Holding LP (78)	Canada		1
Rohm and Haas Canada LP (57)	Canada		1
Dow Canada Holding LP (78)	Canada		99
Daulat Canada Holding LP (80)	Canada		99
3229809 Nova Scotia Company	Canada		100
Dow Investment Argentina S.A. (48)	Argentina		97
PBBPolisur S.A. (28)	Argentina		72
PBBPolisur S.A. (28)	Argentina		28
Dow Investment Argentina S.A. (48)	Argentina		3
K-D Petrochemicals C.V. (1) (47)	Netherlands		1
SD Group Service Co., Ltd. (1)	Thailand		50
Siam Polyethylene Company Limited (1) (75)	Thailand		2
Siam Polyethylene Company Limited (1) (75)	Thailand		49
Dow Chemical Canada ULC	Canada		100
3229897 Nova Scotia Company	Canada		100
Dow Chemical Finance Canada ULC	Canada		100
Modeland International Holdings Inc. (23)	Barbados		59
Dow Brasil S.A.	Brazil		100
Branco Dow Compostos de Engenharia Ltda.	Brazil		100
Dopec Industria E Comercio Ltda.	Brazil		100
Dow Especialidades Quimicas Ltda.	Brazil		100

180

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
Dow Brasil Sudeste Industrial Ltda.	Brazil		100
Keytil Sociedad Anonima	Uruguay		100
Santa Vitoria Acucar e Alcool Ltda. (81)	Brazil		50
Fort Saskatchewan Ethylene Storage Limited Partnership (1) (12)	Canada		49
H-D Tech Inc. (1)	Canada		50
MEGlobal Canada Inc (1)	Canada		50
Pétromont and Company, Limited Partnership (1)	Canada		50
Pétromont Inc. (1)	Canada		50
Rohm and Haas Canada LP (57)	Canada		99
Ifco Inc.	Delaware		100
Chemtech II L.P. (8)	Delaware		5
Intarsia Corporation	Delaware		99
Ion Holdings LLC (15)	Delaware		60
Ion Investments S.a.r.l.	Luxembourg		100
Liana Limited	Delaware		100
Dorinco Insurance (Ireland) Limited	Ireland		100
Dorinco Reinsurance Company	Michigan		100
Dorintal Reinsurance Limited	Bermuda		100
100 Independence Mall West LLC	Delaware		100
Timber Insurance Limited	Bermuda		100
Pacific Plastics (Thailand) Limited (41)	Thailand		49
Raven Group Ltd.	Delaware		100
RavenWorks Ltd.	Delaware		100
Rofan Services Inc.	Delaware		100
Dow AgroSciences LLC (9)	Delaware		10
DowBrands Inc. (14)	Delaware		2
Ion Holdings LLC (15)	Delaware		40
Mycogen Corporation (13)	California		88
Dow AgroSciences LLC (9)	Delaware		51
Alsan Research (1)	Iowa		50
Bayer DAS (Private) Ltd (1)	Pakistan		50
DAS Agricultural Investment Holding Company Ltd.	Mauritius		100
Dow AgroSciences India Pvt. Ltd. (27)	India		1
Dow AgroSciences (China) Company Limited	China		100
DERe Insurance Company	Vermont		100
Dintec Agrichemicals LLC (1)	Delaware		50
Dow AgroSciences Agricultural Products Limited	Mauritius		100
Dow AgroSciences India Pvt. Ltd. (27)	India		99
Dow AgroSciences B.V.	Netherlands		100
Ambito DAS S.A. (1)	Argentina		50
ChacoDAS S.A. (1)	Argentina		50
DASER AGRO S.A. (1)	Argentina		50
Desab S.A. (1)	Argentina		50
Dintec Agroquimica Produtos Quimicos, Lda.	Portugal		66
Dow AgroSciences A.S.	Turkey		100
Dow AgroSciences Argentina S.A. (17)	Argentina		89
Dow AgroSciences Bolivia S.A. (32)	Bolivia		1
Dow AgroSciences Paraguay S.A. (33)	Paraguay		1
Dow AgroSciences Asia Sdn. Bhd.	Malaysia		100
Dow AgroSciences Australia Limited	Australia		100
Dow AgroSciences Bolivia S.A. (32)	Bolivia		98
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

181

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
Dow AgroSciences Export S.A.S.	France		100
Dow AgroSciences Guatemala S.A.	Guatemala		100
Dow AgroSciences Iberica S.A.	Spain		100
Dow AgroSciences Industrial Ltda.	Brazil		100
Dow AgroSciences Sementes & Biotecnologia Brasil Ltda.	Brazil		100
Dow AgroSciences Limited	United Kingdom		100
Dow AgroSciences (Malaysia) Sdn Bhd	Malaysia		100
Dow AgroSciences (NZ) Limited	New Zealand		100
Dow AgroSciences OOO	Russia		100
Dow AgroSciences Pacific Limited	Hong Kong		100
Dow AgroSciences Paraguay S.A. (33)	Paraguay		99
Dow AgroSciences Bolivia S.A. (32)	Bolivia		1
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.	Taiwan		100
Dow AgroSciences Technology GmbH	Switzerland		100
Dow AgroSciences Switzerland S.A.	Switzerland		100
Dow AgroSciences Hungary Kft.	Hungary		100
Dow AgroSciences Vertriebsgesellschaft m.b.H.	Austria		100
Dow Chemical Japan Limited	Japan		100
Dow Venezuela, C.A. (7)	Venezuela		54
Fedea S.A. (1)	Argentina		50
Forratec Argentina S.A. (1)	Argentina		50
JV Agro S.A. (1)	Argentina		50
P.T. Dow AgroSciences Indonesia	Indonesia		95
Rindes y Cultivos DAS S.A. (1)	Argentina		50
Terramar JV S.A. (1)	Argentina		50
Ubajay DAS S.A. (1)	Argentina		50
Dow AgroSciences China Ltd.	Delaware		100
Dow AgroSciences International Ltd.	Delaware		100
Dow AgroSciences (Thailand) Limited	Thailand		100
Dow AgroSciences Southern Africa (Proprietary) Ltd.	South Africa		100
Sanachem Zimbabwe (Pvt) Ltd.	Zimbabwe		100
DowBrands Inc. (14)	Delaware		11
Mycogen Crop Protection, Inc.	California		100
Mycogen S.A. de C.V. (4)	Mexico		99
Mycogen Plant Science, Inc.	Delaware		100
Agrigenetics, Inc.	Delaware		100
Agrigenetics Molokai LLC	Hawaii		100
Brodbeck Seeds LLC	Delaware		100
Dairyland Seed Co., Inc.	Wisconsin		100
Dow AgroSciences Argentina S.A. (17)	Argentina		11
Duo Maize B.V.	Netherlands		100
Mycogen S.A. de C.V. (4)	Mexico		1
Mycogen Seeds-Puerto Rico Corporation	Delaware		100
Pfister Seeds LLC	Delaware		100
Renze Seeds LLC	Delaware		100
Texas Triumph Seed Co., Inc.	Texas		100
Monterey Seed Company, Inc.	Texas		100
Phytogen Seed Company, LLC	Delaware		54
Wenben Inc.	Delaware		100
Rohm and Haas Company	Delaware		100
AgroFresh Inc.	Illinois		100
Charles Lennig & Company LLC	Delaware		100

182

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
Rohm and Haas Australia Pty. Ltd. (49)	Australia		1
Rohm and Haas Chile Limitada. (50)	Chile		1
Rohm and Haas Colombia Ltda (51)	Colombia		5
Rohm and Haas Argentina S.R.L. (52)	Argentina		10
Rohm and Haas Australia Pty. Ltd. (49)	Australia		99
Rohm and Haas Chemicals LLC (53)	Delaware		23
CVD Incorporated	Delaware		100
Morton Intermediate Company	Delaware		100
Rohm and Haas Electronic Materials Taiwan Ltd.	Taiwan		100
Morton International Co., Ltd.	Japan		100
Morton International, LLC	Indiana		100
Nichigo-Morton Co., Ltd. (1)	Japan		50
Rohm and Haas Credit LLC	Delaware		100
Rohm and Haas (Bermuda), Ltd.	Bermuda		100
Rohm and Haas Holdings Ltd. (54)	Bermuda		99
Rohm and Haas Capital Corporation	Delaware		100
Rohm and Haas Equity Corporation (55)	Delaware		83
ROH Venture GmbH	Germany		100
StoHaas Management GmbH (1)	Germany		50
StoHaas Monomer GmbH & Co. KG (1)	Germany		50
Rohm and Haas (Far East) Limited	Hong Kong		100
Rohm and Haas Asia, Inc.	Delaware		100
Rohm and Haas Chemical (Thailand) Limited	Thailand		100
Rohm and Haas China, Inc.	Delaware		100
Beijing Eastern Rohm and Haas Company, Limited (BERHC)	China		60
Rohm and Haas International Trading (Shanghai) Co. Ltd.	China		100
Shanghai Eastern Rohm and Haas Company Ltd.	China		59
Rohm and Haas Denmark Investments LLC	Delaware		100
Rohm and Haas European Holding ApS (59)	Denmark		1
Rohm and Haas Denmark A/S	Denmark		100
Rohm and Haas Denmark Finance A/S	Denmark		100
Acima AG fur Chemische Industrie	Switzerland		100
PT. Rohm and Haas Indonesia (61)	Indonesia		99
RH Denmark Asia Plastics Additives Investment ApS	Denmark		100
RH DK ChemiHaas Holding ApS	Denmark		100
RH DK Korea FPD Holdings ApS	Denmark		100
SKC Haas Display Films Co., Ltd.	Korea		51
SKC Haas Display Films (USA) LLC	Delaware		100
SKC Haas Display Films Japan K.K.	Japan		100
SKC Haas Display Films Taiwan Ltd.	Taiwan		100
SKC Haas Polska Sp.z o. o.	Poland		100
SKC New Material (Suzhou) Co., Ltd.	China		100
RH DK Korea OLED Holdings ApS	Denmark		100
RH DK Mexico Holding ApS	Denmark		100
Rohm and Haas Mexico, S. de R.L. de C.V. (62)	Mexico		99
RH DK Vietnam Holdings ApS	Denmark		100
Rohm and Haas Vietnam Co., Ltd.	Vietnam		100
Rohm and Haas (India) Pvt. Ltd. (60)	India		1
Rohm and Haas (UK) Holdings Ltd.	United Kingdom		100
Morton International Limited	United Kingdom		100
Rohm and Haas Electronic Materials Europe Ltd.	United Kingdom		100
Shipley Chemicals Limited	United Kingdom		100
Rohm and Haas UK Investment Ltd.	United Kingdom		100
Rohm and Haas (UK) Limited	United Kingdom		100
Lennig Chemicals Limited (1)	United Kingdom		50
Rohm and Haas (Scotland) Limited	United Kingdom		100
Rohm and Haas Electronic Materials AB	Sweden		100
Rohm and Haas Electronic Materials Holdings UK Ltd.	United Kingdom		100

183

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
Rohm and Haas Argentina S.R.L. (52)	Argentina		90
Rohm and Haas Bermuda Partner I GP (63)	Bermuda		46
Rohm and Haas Denmark Bermuda GP ApS	Denmark		100
Rohm and Haas Bermuda GP (64)	Bermuda		47
Rohm and Haas Denmark Holding Company ApS	Denmark		100
Finndisp Ltd.	Russia		100
Limited Liability Company “Rohm and Haas”	Russia		100
Limited Liability Company “Rohm and Haas Khimicheskiye Tekhnologii”	Russia		100
Rohm and Haas B.V.	Netherlands		100
Rohm and Haas Espana Production Holding, S.L.	Spain		100
Rohm and Haas Espana, S.L.	Spain		100
Rohm and Haas Europe Sales ApS	Denmark		100
Rohm and Haas International SNC (69)	France		1
Rohm and Haas Europe Services ApS	Denmark		100
Rohm and Haas Europe Trading ApS	Denmark		100
RH Switzerland Production Holding GmbH	Switzerland		100
Rohm and Haas Electronic Materials Schweiz GmbH	Switzerland		100
RH Deutschland Produktion Holding GmbH	Germany		100
Rohm and Haas Deutschland Produktion GmbH & Co. KG	Germany		100
Rohm and Haas Nordiska AB	Sweden		100
Rohm and Haas South Africa (PTY) Limited	South Africa		100
Rohm and Haas France Finance SAS	France		100
Rohm and Haas Italia S.r.l.	Italy		100
Rohm and Haas Kimya Sanayi Limited Sirketi (66)	Turkey		99
Rohm and Haas Kimya Ticaret Limited Sirketi (67)	Turkey		99
Rohm and Haas Kimyasal Urunler Uretim Dagitim ve Ticaret A.S. (68)	Turkey		59
Rohm and Haas International SNC (69)	France		99
RH France Production Holding SAS	France		100
Rohm and Haas France S.A.S.	France		100
Morton International S.A.S.	France		100
Rohm and Haas Electronic Materials SAS	France		100
Rohm and Haas Polska Sp. z o.o.	Poland		100
Rohm and Haas Bermuda Partner II GP (70)	Bermuda		99
Rohm and Haas Bermuda GP (64)	Bermuda		53
Rohm and Haas Chemicals Singapore Pte. Ltd.	Singapore		100
Rohm and Haas China Holding ApS	Denmark		100
Rohm and Haas (China) Holding Co., Ltd.	China		100
Rohm and Haas China Investment Holding Company Ltd	Mauritius		100
Rohm and Haas Denmark Bermuda Holding Company ApS	Denmark		100
RH Asia Holding GmbH	Switzerland		100
Rohm and Haas Electronic Materials Asia Limited	Hong Kong		100
RH Denmark Dongguan Holding Company ApS	Denmark		100
Rohm and Haas Electronic Materials (Shanghai) Ltd.	China		100
Rohm and Haas Electronic Materials Singapore Pte. Ltd. (71)	Singapore		50
Rohm and Haas HK China Investments Limited	Hong Kong		100
Rohm and Haas Electronic Materials Singapore Pte. Ltd. (71)	Singapore		50
Rohm and Haas Bermuda Partner I GP (63)	Bermuda		53
Rohm and Haas Denmark China Investment ApS	Denmark		100
PT. Rohm and Haas Indonesia (61)	Indonesia		1
Rohm and Haas Bermuda Partner I GP (63)	Bermuda		1
Rohm and Haas Bermuda Partner II GP (70)	Bermuda		1
Rohm and Haas Latinoamerica, S. de R.L. de C.V. (72)	Mexico		1
Rohm and Haas Mexico, S. de R.L. de C.V. (62)	Mexico		1
Rohm and Haas Shanghai Chemical Industry Co., Ltd.	China		100
Rohm and Haas Finland Oy	Finland		100
Rohm and Haas HK Dongguan Holding Limited	Hong Kong		100
Rohm and Haas Electronic Materials Dongguan Ltd.	China		100

184

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
Rohm and Haas India Investment ApS	Denmark		100
Rohm and Haas (India) Pvt. Ltd. (60)	India		99
Rohm and Haas Kimya Sanayi Limited Sirketi (66)	Turkey		1
Rohm and Haas Kimya Ticaret Limited Sirketi (67)	Turkey		1
Rohm and Haas Kimyasal Urunler Uretim Dagitim ve Ticaret A.S. (68)	Turkey		1
Rohm and Haas Latinoamerica, S. de R.L. de C.V. (72)	Mexico		99
Rohm and Haas Nederland B.V.	Netherlands		100
Rohm and Haas Singapore (Pte.) Ltd.	Singapore		100
Rohm and Haas European Holding ApS (59)	Denmark		99
Rohm and Haas German Real Estate GmbH	Germany		100
Rohm and Haas Korea Co., Ltd.	Korea		100
Rohm and Haas Luxembourg Holding S.a.r.l.	Luxembourg		100
Rohm and Haas Canada Finance Company/Compagnie de Finance Rohm et Haas Canada	Canada		100
Rohm and Haas Canada Investments Inc./Placements Rohm et Haas Canada Inc. (56)	Canada		8
Rohm and Haas Texas Incorporated	Texas		100
Battleground Water Company (73)	Texas		52
ROH Monomer Holding Company	Delaware		100
Rohm and Haas Investment Holdings Inc. (58)	Delaware		27
Rohm and Haas Malaysia Sdn Bhd	Malaysia		100
Rohm and Haas Holdings Ltd. (54)	Bermuda		1
Rohm and Haas Equity Corporation (55)	Delaware		12
Rohm and Haas Wood Treatment LLC	Delaware		100
Rohm and Haas Chile Limitada. (50)	Chile		99
Rohm and Haas Colombia Ltda (51)	Colombia		95
Rohm and Haas de Venezuela, C.A.	Venezuela		100
Rohm and Haas Electronic Materials K.K.	Japan		100
LeaRonal Japan Y.K.	Japan		100
Rohm and Haas Japan Kabushiki Kaisha	Japan		100
Japan Acrylic Chemical Co., Ltd.	Japan		100
Rohm and Haas Equity Corporation (55)	Delaware		2
Rohm and Haas Holdings LLC	Delaware		100
Rohm and Haas Chemicals LLC (53)	Delaware		76
Rohm and Haas Electronic Materials Holdings, Inc.	Delaware		100
Rohm and Haas Electronic Materials CMP Inc.	Delaware		100
Rohm and Haas Electronic Materials CMP Asia Inc.	Delaware		80
Nitta Haas Trading Company	Japan		100
Rohm and Haas Electronic Materials CMP Korea Ltd.	Korea		100
Rohm and Haas Electronic Materials CMP Sdn. Bhd.	Malaysia		100
Rohm and Haas Electronic Materials CMP Europe GmbH	Germany		100
Rohm and Haas Electronic Materials CMP Holdings, Inc.	Delaware		100
Rohm and Haas International Holdings Inc.	Delaware		100
Rohm and Haas Asia Holdings B.V.	Netherlands		100
Rohm and Haas Electronic Materials Asia-Pacific Co., Ltd.	Taiwan		100
Rohm and Haas Electronic Materials Korea Ltd.	Korea		100
Rohm and Haas Japan Holdings Y.K.	Japan		100
Nitta Haas Incorporated (83)	Japan		50
Rodel Particles, Inc.	Japan		100
Rohm and Haas Taiwan, Inc.	Taiwan		100
Rohm and Haas Electronic Materials LLC	Delaware		100
Rohm and Haas Equity Corporation (55)	Delaware		3
Rohm and Haas Latin America, Inc.	Delaware		100
Rohm and Haas Chemicals LLC (53)	Delaware		1
Rohm and Haas Vermont Company	Vermont		100
Rohm and Haas Investment Holdings Inc. (58)	Delaware		64
Rohm and Haas New Zealand Limited	New Zealand		100
Rohm and Haas Philippines, Inc.	Philippines		100
Rohm and Haas Quimica Ltda.	Brazil		100

185

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
Rohm and Haas Southeast Asia, Inc.	Delaware		100
Silicon Valley Chemical Laboratories Inc.	California		80
SAFECHEM North America LLC	Delaware		100
Sentrachem US, Inc.	Delaware		100
Hampshire Holdings, Inc.	Delaware		100
Hampshire Chemical Corp.	Delaware		100
Siam Polystyrene Company Limited (1)	Thailand		50
Siam Styrene Monomer Co., Ltd. (1)	Thailand		50
Siam Synthetic Latex Company Limited (1)	Thailand		50
Styron Asia Limited	Hong Kong		100
TCM Technologies Inc.	Delaware		100
Texas LNG Holdings LLC	Delaware		100
Union Carbide Corporation	New York		100
Amerchol Corporation	Delaware		100
Benefit Capital Management Corporation	Delaware		100
Calidria Corporation	Delaware		100
Carbide Chemical (Thailand) Limited	Thailand		100
Excellent Quality (Thailand) Company Limited	Thailand		100
Catalysts, Adsorbents & Process Systems, Inc.	Maryland		100
DML Holding Inc. (30)	Delaware		11
Dow International Holdings Company (22)	Delaware		19
Dow Petrochemicals Holding LLC (42)	Delaware		25
Dow Quimica Argentina S.A. (20)	Argentina		23
Dow Quimica Mexicana S.A. de C.V. (16)	Mexico		15
Dow Venezuela, C.A. (7)	Venezuela		10
Global Industrial Corporation	New York		100
GWN Holding, Inc. (31)	Delaware		7
Industrias Carlisil, S.A.	Mexico		100
Modeland International Holdings Inc. (23)	Barbados		41
Nippon Unicar Company Limited (1)	Japan		50
P.T. Union Carbide Indonesia	Indonesia		100
Peñuelas Technology Park LLC	Delaware		100
Seadrift Pipeline Corporation	Delaware		100
Servicios de Quimicos Agricolas, S. A.	Mexico		100
South Charleston Sewage Treatment Company	West Virginia		100
UC Finco Inc.	Delaware		100
UCAR Emulsion Systems International, Inc.	Delaware		100
UCAR Emulsion Systems FZE	Dubai		100
UCAR Interam Inc.	Delaware		100
UCAR Louisiana Pipeline Company	Delaware		100
UCAR Pipeline Incorporated	Delaware		100
UCMG LLC	Delaware		100
Umetco Minerals Corporation	Delaware		100
Australia and New Zealand Exploration Company	Delaware		100
Blue Creek Coal Company, Inc.	Delaware		100
Predate Properties (Pty) Ltd.	South Africa		100
Umetco Minerals Exploration Corporation	Delaware		100
Union Carbide Asia Limited	Hong Kong		100
Union Carbide (Guangdong Zhongshan) Company Limited	China		75
Union Carbide Asia Pacific, Inc.	Delaware		100
Union Carbide Chemicals & Plastics Technology LLC	Delaware		100
Dow Petrochemicals Holding LLC (42)	Delaware		25
Dow Technology Investments LLC (37)	Delaware		50
Union Carbide Comercial Nicaragua, S.A.	Nicaragua		100
Union Carbide Customer Services Pte. Ltd.	Singapore		100
Union Carbide Ethylene Oxide/Glycol Company	Delaware		100
Union Carbide Inter-America, Inc.	Delaware		100

186

Subsidiaries of The Dow Chemical Company

At December 31, 2010


	Location*	% Ownership
This list includes companies for which the effective ownership by The Dow Chemical Company is 50 percent or more.
Dow Peru S.A. (24)	Peru		9
Dow Quimica Chilena S.A. (21)	Chile		10
Union Carbide Middle East Limited	Delaware		100
Union Carbide Pan America, Inc.	Delaware		100
Dow Quimica Argentina S.A. (20)	Argentina		1
Dow Quimica Chilena S.A. (21)	Chile		1
Union Carbide Philippines (Far East), Inc.	Philippines		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 Q Inc.	Delaware		100
Union Carbide Wire & Cable Company, Inc.	Delaware		100
Union Polymers Sdn. Bhd.	Malaysia		90
UNISON Transformer Services, Inc.	Delaware		100
Westbridge Insurance Ltd.	Bermuda		100
U.S. Laboratories, Inc.	Ohio		100
Administrative Business Systems, Inc.	Ohio		100
Poly-Carb, Inc.	Ohio		100
Warbler I LLC	Delaware		100

*	Location of incorporation or organization. Primary location of organization is reported for partnerships.

187

Subsidiaries of The Dow Chemical Company

At December 31, 2010

(1)

These companies are 50%-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.

(2)	The Dow Chemical Company effective ownership of Dow Mideast Systems S.A.E. (JSC) is 100% of which Dow Europe Holding B.V. owns 99.96%, Dow Europe GmbH owns 0.020% and Dow InterBranch B.V. owns 0.020%.

(3)	The Dow Chemical Company effective ownership of Dow Turkiye Kimya Sanayi ve Ticaret Ltd Sirketi is 100% of which Dow Europe Holding B.V. owns 99.9988% and Dow InterBranch B.V. owns 0.0012%.

(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 Holdings LLC 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 Dow AgroSciences B.V. owns 53.84%, The Dow Chemical Company owns 36.06% and Union Carbide Corporation owns 10.1%.

(8)	The Dow Chemical Company effective ownership of Chemtech II L.P. is 100% of which Dow Chemical Delaware Corp. owns 72.46%, The Dow Chemical Company owns 22.39% and Ifco Inc. owns 5.15%.

(9)	The Dow Chemical Company effective ownership of Dow AgroSciences LLC is 100% of which Mycogen Corporation owns 51%, Centen Ag Inc. owns 38.91% and Rofan Services Inc. owns 10.09%.

(10)	The Dow Chemical Company effective ownership of Polyol Belgium B.V.B.A. is 100% of which Dow Benelux B.V. owns 99.5% and Dow Europe Holding B.V. owns 0.5%.

(11)	The Dow Chemical Company effective ownership of Chemtech Portfolio Inc. is 100% of which Dow Global Technologies Inc. owns 66.82% and Chemtech II L.P. owns 33.18%.

(12)

The Dow Chemical Company effective ownership of Fort Saskatchewan Ethylene Storage Limited Partnership is 50% of which Dow Chemical Canada ULC owns 49.9% and Fort Saskatchewan Ethylene Storage Corporation owns 0.2%. (Midland Pipeline Corp. owns 50% of Fort Saskatchewan Ethylene Storage Corporation.)

(13)	The Dow Chemical Company effective ownership of Mycogen Corporation is 100% of which Rofan Services Inc. owns 88.11% and Centen Ag Inc. owns 11.89%.

(14)	The Dow Chemical Company effective ownership of DowBrands Inc. is 100% of which Dow International Holdings Company owns 79%, Mycogen Corporation owns 11%, Centen Ag Inc. owns 8% and Rofan Services Inc. owns 2%.

(15)	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%.

(16)	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%.

(17)	The Dow Chemical Company effective ownership of Dow AgroSciences Argentina S.A. is 100% of which Dow AgroSciences B.V. owns 89.13% and Agrigenetics, Inc. owns 10.87%.

(18)	The Dow Chemical Company effective ownership of Dexco Polymers LP is 50% of which DW Dexco Investment LLC owns 49.5% and Dexco Polymers Operating Company LLC owns 1%. (The Dow Chemical Company owns 50% of Dexco Polymers Operating Company LLC).

(19)	The Dow Chemical Company effective ownership of Dow Zwijndrecht B.V.B.A. is 100% of which Dow Europe Holding B.V. owns 99.65% and Dow InterBranch B.V. owns 0.35%.

(20)	The Dow Chemical Company effective ownership of Dow Quimica Argentina S.A. is 100% of which The Dow Chemical Company owns 76.70%, Union Carbide Corporation owns 23.20% and Union Carbide Pan America, Inc. owns 0.10%.

(21)	The Dow Chemical Company effective ownership of Dow Quimica Chilena S.A. is 100% of which The Dow Chemical Company owns 89.81%, Union Carbide Inter-America, Inc. owns 10.16% and Union Carbide Pan America, Inc. owns 0.03%.

(22)	The Dow Chemical Company effective ownership of Dow International Holdings Company is 100% of which The Dow Chemical Company owns 72.0268%, Union Carbide Corporation owns 19.1341%, Essex Specialty Products LLC owns 8.7988% and Dow Chemical International Ltd owns 0.0403%.

(23)	The Dow Chemical Company effective ownership of Modeland International Holdings Inc. is 100% of which Dow Chemical Finance Canada ULC owns 59.1% and Union Carbide Corporation owns 40.9%.

(24)	The Dow Chemical Company effective ownership of Dow Peru S.A. is 100% of which The Dow Chemical Company owns 91.21% and Union Carbide Inter-America, Inc. owns 8.79%.

188

Subsidiaries of The Dow Chemical Company

At December 31, 2010

(25)	The Dow Chemical Company effective ownership of Valuepark Terneuzen C.V. is 50% of which Terneuzen Partnership Services B.V. owns 49.82% and Valuepark Terneuzen Beheer B.V. owns 0.36%. (Dow Benelux B.V. owns 50% of Valuepark Terneuzen Beheer BV).

(26)	The Dow Chemical Company effective ownership of Dow Chemical International Pvt. Ltd. is 100% of which Dow Chemical Pacific (Singapore) Private Limited owns 99.99% and Dow Chemical (Singapore) Private Limited owns 0.01%.

(27)	The Dow Chemical Company effective ownership of Dow AgroSciences India Pvt. Ltd. is 100% of which Dow AgroSciences Agricultural Products Limited owns 99.99% and DAS Agricultural Investment Holding Company Ltd. owns 0.01%.

(28)	The Dow Chemical Company effective ownership of PBBPolisur S.A. is 100% of which Dow Investment Argentina S.A. owns 72% and 3229809 Nova Scotia Company owns 28%.

(29)	The Dow Chemical Company effective ownership of Dow Stade Produktions GmbH & Co. OHG is 100% of which SAFECHEM Europe GmbH owns 70% and ANGUS Chemie GmbH owns 30%. Dow Europe Holding B.V acts as a general partner with 0% capital participation.

(30)	The Dow Chemical Company effective ownership of DML Holding Inc. is 100% of which The Dow Chemical Company owns 88.84% and Union Carbide Corporation owns 11.16%.

(31)	The Dow Chemical Company effective ownership of GWN Holding, Inc. is 100% of which The Dow Chemical Company owns 66.23%, Essex Specialty Products LLC owns 26.93% and Union Carbide Corporation owns 6.84%.

(32)	The Dow Chemical Company effective ownership of Dow AgroSciences Bolivia S.A. is 100% of which Dow AgroSciences B.V. owns 99%, Dow AgroSciences Argentina S.A. owns 0.5% and Dow AgroSciences Paraguay S.A. owns 0.5%.

(33)	The Dow Chemical Company effective ownership of Dow AgroSciences Paraguay S.A. is 100% of which Dow AgroSciences B.V. owns 99.99% and Dow AgroSciences Argentina S.A. owns 0.01%.

(34)	The Dow Chemical Company effective ownership of Dow Chemical Korea Limited is 100% of which The Dow Chemical Company owns 85.82% and Dow Europe Holding B.V. owns 14.18%.

(35)	The Dow Chemical Company effective ownership of Dow Saudi Arabia Company is 100% of which Dow Europe Holding B.V. owns 85% and Dow Interbranch B.V. owns 15%.

(36)	The Dow Chemical Company effective ownership of Dow Wolff Cellulosics GmbH & Co. OHG is 100% of which ANGUS Chemie GmbH owns 50% and SAFECHEM Europe GmbH owns 50%. Dow Europe Holding B.V. acts as general partner with 0% capital participation.

(37)	The Dow Chemical Company effective ownership of Dow Technology Investments LLC is 100% of which Dow Global Technologies Inc. owns 50% and Union Carbide Chemicals & Plastics Technology LLC owns 50%.

(38)	The Dow Chemical Company effective ownership of DC Spectrum Holding C.V. is 100% of which Dow International Holdings Company owns 99.999% and Dow Netherlands Holdings LLC owns 0.001%.

(39)	The Dow Chemical Company effective ownership of Coöperatieve DC Prisma Holding U.A. is 100% of which DC Spectrum Holding C.V. owns 99.999% and Dow Netherlands Investments LLC owns .001%.

(40)	The Dow Chemical Company effective ownership of DC Galaxy Holding C.V. is 100% of which Dow International Holdings S.A. owns 99.928% and Dow Dutch Holding B.V. owns 0.072%.

(41)	The Dow Chemical Company effective ownership of Pacific Plastics (Thailand) Limited is 100% of which Dow Chemical International Ltd. owns 51% and The Dow Chemical Company owns 49%.

(42)	The Dow Chemical Company effective ownership of Dow Petrochemicals Holding LLC is 100% of which The Dow Chemical Company owns 25%, Dow Global Technologies Inc. owns 25%, Union Carbide Corporation owns 25% and Union Carbide Chemicals & Plastics Technology LLC owns 25%.

(43)	The Dow Chemical Company effective ownership of Dow Egypt Services Limited is 100% of which Dow Mideast Systems S.A.E. (JSC) owns 75% and Dow Europe GmbH owns 25%.

(44)	The Dow Chemical Company effective ownership of Dow Olefinverbund GmbH is 100% of which Dow Europe Holding B.V. owns 95% and Dow Beteiligungsgesellschaft mbH & Co. KG owns 5%.

(45)	The Dow Chemical Company effective ownership of Dow Izolan OOO is 58% via its ownership interest in RUS Polyurethanes Holding B.V.

(46)	The Dow Chemical Company effective ownership of Dow Izolan Ukraine LLC is 58% via its ownership interest in RUS Polyurethanes Holding B.V.

(47)

The Dow Chemical Company effective ownership of K-D Petrochemicals C.V. is 50% of which Daulat Holdco LLC owns .00058011%, Dow Plastics and Chemicals Holding B.V. owns .00058011%, Daulat Canada Holding LP owns .00058011% and K-Dow Petrochemicals GmbH owns 99.99651933% (Dow Petrochemicals Holding LLC owns 50% of K-Dow Petrochemicals GmbH.)

189

Subsidiaries of The Dow Chemical Company

At December 31, 2010

(48)	The Dow Chemical Company effective ownership of Dow Investment Argentina S.A. is 100% of which 3229809 Nova Scotia Company owns 97% and Daulat Canada Holding LP owns 3%.

(49)	The Dow Chemical Company effective ownership of Rohm and Haas Australia Pty. Ltd. is 100% of which Rohm and Haas Company owns 99.999867% and Charles Lennig & Company LLC owns .000133%.

(50)	The Dow Chemical Company effective ownership of Rohm and Haas Chile Limitada is 100% of which Rohm and Haas Company owns 99% and Charles Lennig & Company LLC owns 1%.

(51)	The Dow Chemical Company effective ownership of Rohm and Haas Colombia Ltda is 100% of which Rohm and Haas Company owns 94.899867% and Charles Lennig & Company LLC owns 5.100133%.

(52)	The Dow Chemical Company effective ownership of Rohm and Haas Argentina S.R.L. is 100% of which Rohm and Haas Denmark Finance A/S owns 89.9942% and Rohm and Haas Company owns 10.0058%.

(53)	The Dow Chemical Company effective ownership of Rohm and Haas Chemicals LLC is 100% of which Rohm and Haas Holdings LLC owns 76.80153%, Rohm and Haas Company owns 23.13014% and Rohm and Haas Latin America, Inc. owns .06833%.

(54)	The Dow Chemical Company effective ownership of Rohm and Haas Holdings Ltd. is 100% of which Rohm and Haas (Bermuda), Ltd. owns 99.971725% and Rohm and Haas Credit LLC owns .028275%.

(55)	The Dow Chemical Company effective ownership of Rohm and Haas Equity Corporation is 100% of which Rohm and Haas Credit LLC owns 82.731264%, Rohm and Haas Chemicals LLC owns 12.666042%, Rohm and Haas Electronic Materials LLC owns 3.031015% and Rohm and Haas Company owns 1.571679%.

(56)	The Dow Chemical Company effective ownership of Rohm and Haas Canada Investments Inc./Placements Rohm et Haas Canada Inc. is 100% of which GWN Holding Inc. owns 91.6%, Rohm and Haas Canada Finance Company/Compagnie de Finance Rohm et Haas Canada owns 8.2% and DML Holding Inc. owns 0.2%.

(57)	The Dow Chemical Company effective ownership of Rohm and Haas Canada LP is 100% of which Rohm and Haas Canada Investments Inc./Placements Rohm et Haas Canada Inc. owns 99.99% and 3243425 Nova Scotia Company owns .01%.

(58)	The Dow Chemical Company effective ownership of Rohm and Haas Investments Holdings Inc. is 90.909% of which Rohm and Haas Company owns 63.6363% and Rohm and Haas Texas Incorporated owns 27.2727%.

(59)	The Dow Chemical Company effective ownership of Rohm and Haas European Holding ApS is 100% of which Rohm and Haas Equity Corporation owns 99.999347% and Rohm and Haas Denmark Investments LLC owns .000653%.

(60)	The Dow Chemical Company effective ownership of Rohm and Haas (India) Pvt. Ltd. is 100% of which Rohm and Haas India Investment ApS owns 99.9860% and Rohm and Haas Denmark Finance A/S owns .0140%.

(61)	The Dow Chemical Company effective ownership of PT. Rohm and Haas Indonesia is 100% of which Rohm and Haas Denmark Finance A/S owns 99% and Rohm and Haas Denmark China Investment ApS is 1%.

(62)	The Dow Chemical Company effective ownership Rohm and Haas Mexico, S. de R.L. de C.V. is 100% of which RH DK Mexico Holding ApS owns 99.999999% and Rohm and Haas Denmark China Investment ApS owns .000001%.

(63)	The Dow Chemical Company effective ownership of Rohm and Haas Bermuda Partner I GP is 100% of which Rohm and Haas Denmark Bermuda Holding Company ApS owns 53.751817%, Rohm and Haas Denmark Finance A/S owns 46.248181% and Rohm and Haas Denmark China ApS owns .000002%.

(64)	The Dow Chemical Company effective ownership of Rohm and Haas Bermuda GP is 100% of which Rohm and Haas Bermuda Partner II GP owns 52.80% and Rohm and Haas Denmark Bermuda GP ApS owns 47.20%.

(65)	The Dow Chemical Company effective ownership of PT Dow Indonesia is 100% of which Dow Chemical Pacific (Singapore) Private Limited owns 99% and Dow Chemical (Singapore) Private Limited owns 1%.

(66)	The Dow Chemical Company effective ownership of Rohm and Haas Kimya Sanayi Limited Sirketi is 100% of which Rohm and Haas Denmark Holding Company ApS owns 99.9992% and Rohm and Haas Denmark Finance A/S owns .0008%.

(67)	The Dow Chemical Company effective ownership of Rohm and Haas Kimya Ticaret Limited Sirketi is 100% of which Rohm and Haas Denmark Holding Company ApS owns 99.9999% and Rohm and Haas Denmark Finance A/S owns .0001%.

(68)	The Dow Chemical Company effective ownership of Rohm and Haas Kimyasal Urunler Uretim Dagitim ve Ticaret A.S. is 60% of which Rohm and Haas Denmark Holding Company ApS owns 59.9993% and Rohm and Haas Denmark Finance A/S owns .0007%.

(69)	The Dow Chemical Company effective ownership of Rohm and Haas International SNC is 100% of which Rohm and Haas Denmark Holding Company ApS owns 99.99999% and Rohm and Haas Europe Sales ApS owns .0001%.

(70)	The Dow Chemical Company effective ownership of Rohm and Haas Bermuda Partner II GP is 100% of which Rohm and Haas Denmark Finance A/S owns 99.999999% and Rohm and Haas Denmark China Investment ApS owns .000001%.

190

Subsidiaries of The Dow Chemical Company

At December 31, 2010

(71)	The Dow Chemical Company effective ownership of Rohm and Haas Electronic Materials Singapore Pte. Ltd. is 100% of which Rohm and Haas Electronic Materials Asia Limited owns 50% and RH Asia Holding GmbH owns 50%.

(72)	The Dow Chemical Company effective ownership of Rohm and Haas Latinoamerica, S. DE R.L. DE C.V. is 100% of which Rohm and Haas Denmark Finance A/S owns 99.999999% and Rohm and Haas Denmark China Investment ApS owns .000001%.

(73)	The Dow Chemical Company effective ownership of Battleground Water Company is 60.61% of which Rohm and Haas Texas Incorporated owns 51.77% and The Dow Chemical Company owns 8.84%.

(74)	The Dow Chemical Company effective ownership of Dow MF Produktion GmbH & Co. OHG is 100% of which SAFECHEM Europe GmbH owns 70% and Dow MF Verwaltungs GmbH owns 30%. Dow Europe Holding B.V. acts as a general partner with 0% capital participation.

(75)	The Dow Chemical Company effective ownership of Siam Polyethylene Company Limited is 50% of which Daulat Canada Holding LP owns 49% and SD Group Service Co. Ltd., which is 50%-owned by The Dow Chemical Company, owns 2%.

(76)	The Dow Chemical Company effective ownership of Dow Deutschland Vertriebs GmbH & Co. OHG is 100% of which SAFECHEM Europe GmbH owns 70% and Dow Deutschland Verwaltungs Vertriebs GmbH owns 30%. Dow Europe Holding B.V. acts as a general partner with 0% capital participation.

(77)	The Dow Chemical Company effective ownership of Dow International Holdings S.A. is 100% of which Dow Dutch Holding B.V. owns 99.824% and Dow Chemical International Ltd. owns 0.176%.

(78)	The Dow Chemical Company effective ownership of Dow Canada Holding LP is 100% of which Rohm and Haas Canada Investments Inc./Placements Rohm et Haas Canada Inc. owns 99.9999% and 3243425 Nova Scotia Company owns 0.0001%.

(79)	The Dow Chemical Company effective ownership of Dow Chemical East Africa Limited is 100% of which Dow Europe Holding B.V. owns 90% and Dow InterBranch B.V. owns 10%.

(80)	The Dow Chemical Company effective ownership of Daulat Canada Holding LP is 100% of which Dow Canada Holding LP owns 99.9999% and 3243425 Nova Scotia Company owns 0.0001%.

(81)	The Dow Chemical Company effective ownership of Santa Vitoria Acucar e Alcool Ltda. Is 100% of which Dow Brasil S.A. owns 50% and Dow InterBranch B.V owns 50%.

(82)

Dow Corning Corporation is a 50%-owned, nonconsolidated affiliate of The Dow Chemical Company and is accounted for on the equity basis. As a significant subsidiary, separate financial statements for Dow Corning Corporation are presented in this Annual Report on Form 10-K pursuant to Rule 3-09 of Regulation S-X. Subsidiaries of Dow Corning Corporation, if any, are not listed in this Exhibit 21.

(83)	These companies are 50%-owned, consolidated affiliates of The Dow Chemical Company. Subsidiaries of these companies, if any, are not listed in this Exhibit 21.

191