On March 23, Dow Corporation and the Zhangjiagang Free Trade Zone in Jiangsu Province held a signing ceremony for a cooperation memorandum. According to the agreement, Dow intends to invest US$300 million in the Zhangjiagang base in the next five years, aiming to deepen the long-term cooperative relationship with Zhangjiagang City through the implementation of production expansion projects, and greatly improve the organic silicon intermediates and products of Dow. production capacity, with innovative solutions to meet the rising demands of related industries and markets around the world.
“Thanks to globalization, urbanization and other development waves, as well as people’s increasing attention to the issue of sustainable development, we have seen that all walks of life, especially in China and the Asia-Pacific market, are more Demand for innovative, more sustainable specialty silicone products continues to rise,” said Mauro Gregorio, president of Dow’s Performance Materials and Coatings business. “As outlined in the agreement, we will undertake a series of low-risk, high-reward investment plans over the next five years that will strengthen our ability to meet the needs of automotive and transportation, buildings and infrastructure, consumer goods and electronics As well as the rapidly growing demand of key application markets such as home and personal care, we will innovate and grow together with customers to create greater benefits.”
Under the impetus of this investment plan, Dow will further develop silicone intermediates such as silicone oils, adhesives and silicone rubbers and its downstream product portfolio. The Zhangjiagang Free Trade Zone will actively provide infrastructure and service support for the development of Dow’s Zhangjiagang base, thereby promoting the steady implementation of the expansion project of the Zhangjiagang base. At the same time, Dow will also share advanced manufacturing experience with the local government and assist the Zhangjiagang Free Trade Zone to improve the overall safety and environmental protection management level of the chemical park within its jurisdiction.
“For a long time, Dow has always been committed to forge ahead and seek common development with all partners in Zhangjiagang City and the Chinese market. The signing of this cooperation memorandum is the best evidence of Dow’s fulfillment 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 cooperation memorandum with Zhangjiagang Free Trade Zone will further strengthen Tao The company’s ability to provide innovative materials science solutions to customers in China and the Asia-Pacific region.”
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