Dow Sharpens Strategic Focus on China

Dow Sharpens Strategic Focus on China
New Organizational Structure, Leadership and Investments Will Help Serve Growing Customer Needs

Beijing - May 27, 2004

The Dow Chemical Company has announced a new organizational structure that will focus exclusively on the Greater China region, which comprises China, Hong Kong SAR and Taiwan. The move will sharpen the company’s strategic focus on this important growth region.

“To grow our business in places of enormous potential like China, we require an organizational model which provides a stronger geographic structure, dedicated leadership and a region-specific growth strategy,” said Dow President and Chief Operating Officer Andrew Liveris.

With 2003 revenues at US$1.6 billion, Greater China is the third largest market for Dow, behind only the United States and Germany.

“The new structure will ensure that Dow responds with agility and unity in pursuit of Greater China specific objectives, especially growth,” said Jim McIlvenny, President, Dow Greater China, who is based in Shanghai.

To drive growth in Greater China, McIlvenny said he’s focusing on three strategic pillars – people, market/customer and assets – that are critical to Dow’s continued success in the region.

“We need capable and committed people to implement Dow’s growth strategy in Greater China. One of our priorities relating to people is their development,” he said. Dow currently has about 1,100 employees in Greater China, at five major business centers and 10 manufacturing sites.

McIlvenny said that with many petrochemical companies – both domestic and foreign – competing in the Chinese marketplace, being able to continually meet the needs of the customers and to enhance customer relationship are key to success in the region.

He added that Dow is looking to make investments in manufacturing capacity to meet the growing demand for petrochemical products in China. “We are considering various strategic options for investing in China and outside of China as well. They will have profound impact on our ability to continue to grow and prosper in Greater China,” McIlvenny said.

China is the biggest petrochemical product importer in the world, and plastics and chemicals consumption per capita in China is only about one-fifth of that in other developed economies. Analysts believe that growth in the chemical industry in China will be in excess of 10% over the next decade.

“We see a lot of room for growth here in China. With the combination of our global capabilities and local expertise, Dow is uniquely positioned to grow and develop with our customers in China,” said McIlvenny.

Dow is a leader in science and technology, providing innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $33 billion, Dow serves customers in more than 180 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of sustainable development, Dow and its approximately 46,000 employees seek to balance economic, environmental and social responsibilities. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.

For Editorial Information:

Vivian Lu
Dow Chemical (China) Investment Co., Ltd.
010-8518-3399 ext 158
Fax: 010-8518-3999

Wendy Li
Ketchum Newscan Public Relations Ltd.
010-8580-3388 ext 43
Fax: 010-8580-3318
wendy.li@knprbj.com


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