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Dow to Build a New Center in Shanghai, China Shanghai - August 31, 2005 The Dow Chemical Company today announces that it will build a new Dow Center in China at the Zhangjiang Hi-Tech Park in Shanghai which can house more than 1,000 employees. The new Dow Center will be comprised of a state-of-the-art research and development (R&D) facility as well as a global information technology (IT) center, with other service and support facilities as well. The Center which takes up more than 65,000 square meters will have created 600 new jobs when it is completed in 2007. Commenting on the announcement, Andrew Liveris, President & CEO of Dow said, "China is an important growth frontier for Dow and we are excited at the establishment of a Dow Center in the country. It not only underscores our commitment but is key to position Dow for our long term growth and sustainability in China." The decision to locate the new Center in Zhangjiang follows months of evaluation studies on various cities and Hi-Tech Parks in the country and the announcement in January this year of the plan to establish the Center. "With its proximity to our customers, an efficient infrastructure and a visionary leadership, we find Zhangjiang a great location for our Center in China," said Jim McIlvenny, President of Dow Greater China. "The new R&D Center will enable our growth through market-driven scientific and technological innovations, enhance current product platforms and create the product platforms of the future," McIlvenny said. He added that the new IT center in China will provide systems and work process support to Dow globally. Preparatory works are already underway and it is expected that the IT components of the new Dow Center can be set up by end of the year, and the entire center will be operational in 2007. Dow has a significant presence in Greater China with 10 manufacturing sites, business centers in 5 major cities and more than 1,300 employees. With revenues of US$ 2.2 billion in 2004, Greater China is the third largest geography in terms of sales for Dow behind the United States and Germany. 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 $40 billion, Dow serves customers in 175 countries and a wide range of markets that are vital to human progress: 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 43,000 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: Kay Yau Josephine Pan Helen He |
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