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 projects, 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, as well as people's increasing attention to the topic of sustainable development, we see the 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 Gregorio, President of functional materials and coatings business of Dow. "As outlined in the agreement, we will launch a series of low-risk and high return investment plans in the next five years, which will enable us to meet the rapid growth needs of key application markets such as automobile and transportation, construction and infrastructure, consumer goods and electronics, and home and personal care, innovate and grow together with customers to create greater profits "
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 also share advanced manufacturing experience with the local government to help Zhangjiagang Free Trade Zone 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 the Chinese market to strive for common development. The signing of this memorandum of cooperation is the best evidence for Dow to fulfill 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. "
Source: new chemical materials