Move keeps jobs in Montgomery County; allows for potential growth
COLLEGEVILLE, Pa. - June 28, 2012
The Dow Chemical Company (NYSE: DOW) announced today, an agreement that will position the nation’s largest specialty chemical and advanced materials company for future growth by locating its North East USA Technology Center in Collegeville, Pa.
Dow scientists will begin operations next year in a state-of-the-art research and development facility owned by the pharmaceutical company Pfizer Inc. Employees at Dow’s Spring House, Pa. campus will begin moving to the new site as early as the first quarter of 2013. It is estimated that more than 800 jobs will remain in the county as both Spring House and Collegeville are cities within Montgomery County.
“This premier new location provides Dow’s world-class researchers with a new collaborative and innovation centric space, enhanced capabilities and best in class tools to create differentiation for our customers,” said Andrew N. Liveris, Dow’s chairman and chief executive officer. “Establishing operations in Collegeville will allow us to remain competitive in a global market and continue as a major employer in Montgomery County, and Pennsylvania."
With over 750,000 square feet of laboratory and office space, the facility will also have room to accommodate potential job growth in the future. After conducting a comprehensive feasibility study, Dow determined this opportunity as the best option to reach research objectives.
“This strategy bolsters our company’s long-standing commitment to Pennsylvania by putting our R&D operations on a long-term path forward,” said Jerome Peribere, executive vice president of The Dow Chemical Company and president and chief executive officer, Dow Advanced Materials headquartered in Philadelphia. “We are proud residents of the Delaware Valley region and look forward to continuing the tradition of innovation that our company began here more than 40 years ago.”
Dow’s Spring House location, acquired via the Company’s Rohm and Haas acquisition in 2009, has been a center for strategic research and development since 1963. From this site, the company’s scientists have invented products ranging from acrylic technology for high-quality latex paints to water purification products and polymers used in laundry detergents, shampoo, lotion, and conditioners.
For more information about Dow’s presence in the Delaware Valley, visit www.dow.com/delawarevalley.
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2011, Dow had annual sales of $60 billion and employed approximately 52,000 people worldwide. The Company's more than 5,000 products are manufactured at 197 sites in 36 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
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