Dow signs Memorandum of Understanding with Zhangjiagang Free Trade Zone
Dow intends to invest $300 million in Zhangjiagang in the next five years to expand capacity for differentiated silicone products
Zhangjiagang, China – March 23, 2020 – Today, Dow (NYSE: DOW) held a signing ceremony for its Memorandum of Understanding (MoU) for collaboration with the Zhangjiagang Free Trade Zone in Jiangsu province, China. By facilitating expansion at Dow’s signature manufacturing site in Zhangjiagang with potential investments of $300 million in the next five years, the MoU intends to increase Dow’s capacity to meet growing global demand for silicone intermediates and finished products, enhancing the Company’s ability to collaborate and deliver innovative solutions with customers.
“Due to megatrends such as globalization, urbanization, and a growing focus on sustainable development, customers across industries are seeking more innovative, sustainable, and differentiated silicone products—especially customers in China and the Asia Pacific region,” said Mauro Gregorio, president of Dow Performance Materials & Coatings. “With the low-risk, high-return investment plan for the next five years outlined in the agreement, we are well positioned to help customers grow and succeed by addressing their fast-growing needs across a wide range of key industries, such as mobility and transportation, building and infrastructure, electronics, and home and personal care.”
Through these planned investments, Dow aims to further develop its silicone intermediates and downstream portfolio, ranging from silicone fluids to adhesives and sealants. The Zhangjiagang Free Trade Zone will facilitate Dow’s planned expansion by supporting the Company through infrastructure and other services. Meanwhile, Dow intends to share manufacturing best practices with local authorities to improve overall safety and environmental performance in the Free Trade Zone.
“The MoU we are signing today is a testament to our long-standing commitment to growing alongside the city of Zhangjiagang and our partners in China,” said Yoke Loon Lim, president of Dow Greater China, who signed the MoU on behalf of Dow. “We view China as a rapidly growing market and the planned investments reflect our confidence in this view. The MoU will enhance Dow’s ability to provide innovative materials science solutions to customers in China and across the broader Asia Pacific.”
Dow (NYSE: DOW) combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company’s ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure and consumer care. Dow operates 109 manufacturing sites in 31 countries and employs approximately 36,500 people. Dow delivered sales of approximately $43 billion in 2019. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.
For further information, please contact:
Dow Greater China
Tel: 021-3851 1604