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On March 23, Dow and Zhangjiagang Free Trade Zone of Jiangsu Province held a signing ceremony of the memorandum of cooperation. According to the summary in the agreement, Dow intends to increase investment of US $300 million in Zhangjiagang base in the next five years, aiming to deepen the long-term cooperation with Zhangjiagang City through the implementation of production expansion project, greatly improve the production capacity of organic silicon intermediates and products of Dow, and meet the increasing demand of relevant industries and markets in the world with innovative solutions.
"Thanks to the development tide of globalization and urbanization, and people's increasing attention to the topic of sustainable development, we see a growing demand for more innovative and sustainable special silicone products in all walks of life, especially in China and the Asia Pacific market," said Mauro, President of functional materials and coatings business of Dow Gregorio) said, "according to the agreement, we will carry out a series of low-risk and high return investment plans in the next five years, which will enable us to meet the fast-growing needs of key application markets such as automobile and transportation, construction and infrastructure, consumer goods and electronics, as well as home and personal care, and innovate and grow with customers And create more profits together. " Dow functional materials
President of coatings business
Mauro Gregorio
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Driven by this investment plan, Dow will further develop silicone intermediates such as silicone oil, adhesives and silicone rubber and their downstream product portfolio. Zhangjiagang Free Trade Zone will actively provide infrastructure and service support for the development of Zhangjiagang base of Dow company, so as to promote the steady implementation of the expansion project of Zhangjiagang base. At the same time, Dow will continue to share advanced manufacturing experience with the local government and assist Zhangjiagang Free Trade Zone to improve the overall safety and environmental management level of the chemical industry park within its jurisdiction. "For a long time, Dow has always been committed to working hand in hand with all partners in Zhangjiagang and even the Chinese market to strive for common development. The signing of the memorandum of cooperation is the best evidence of Dow's implementation of this commitment. " Lin Yulin, President of Dow Greater China, attended the signing ceremony and signed the agreement on behalf of Dow. "This investment plan confirms our firm confidence in the rapid growth of the Chinese market. The signing of the memorandum of cooperation with Zhangjiagang Free Trade Zone will further strengthen Dow's ability to provide innovative material science solutions to customers in China and the Asia Pacific region. "
Dow company
President of Greater China
Lin Yu Lin
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About Dow
Dow (NYSE Code: Dow) combines global layout, asset consolidation and scale efficiency with focused innovation and leading business positioning to achieve profitable growth. The company aims to become the leading material science company in innovation, customer orientation, inclusiveness and sustainable development. Dow's plastics, industrial intermediates, coatings and silicone business portfolio provides a wide range of technology-based differentiated products and solutions for customers in high growth markets, including packaging, infrastructure and consumer care. Dow operates 109 manufacturing bases in 31 countries and employs about 36500 people worldwide. Dow achieved approximately $43 billion in sales in 2019. "Dow" or "company" means Dow Inc. and its subsidiaries. For more information, please visit www.dow.com.
Source: Dow