Vladimir, Russia - December 27, 2012
On December 21, 2012 Chairman of Vladimir Region Legislative Assembly, Kiselev V.N. visited Dow Izolan, a joint venture company for polyurethane systems production in Russia formed in 2006 by The Dow Chemical Company (NYSE: Dow) and the Scientific Manufacturing Company Izolan Ltd.
During the site tour and press briefing, Mikhail Tsarfin, Dow Izolan general manager, presented the latest innovations in the polyurethane systems applications and gave an overview of the company’s activities, updating on the 2012 financial performance and outlining plans to expand business and further contribute to the regional economic development and local community.
"Our team is extremely honored to welcome Vladimir Kiselev at the Dow Izolan manufacturing facility, which is an important step forward in fostering an open dialogue between business and government. We highly appreciate the trustworthy relations with the local authorities and their support for Dow Izolan to continue bringing into the local market our scientific, commercial and manufacturing capabilities, contributing to the economic development of the Vladimir city and region as well as acting as a truly responsible corporate citizen." "Born in Vladimir, I would like to see more innovation-driven companies being formed in the city that help transform Vladimir into a centre of science, education and breakthrough developments," Tsarfin added.
Mr. Kiselev and local media representatives visited the Dow Izolan plant and laboratory to see first-hand the advanced manufacturing processes and tailored polyurethane systems solutions used for a broad range of applications, including construction, automotive and motor-vehicles, refrigeration equipments, furniture, footwear, and more.
"Entering a local market, an investor, especially a foreign one, is confronting a series of challenges to form a company and develop business. I believe a governmental organization needs to be formed to be able to provide such support, help find solutions and facilitate business development locally. Today we are developing a strategy for the Vladimir region which will focus – among others – on establishing relations with investors and encouraging them to launch sustainable enterprises such as Dow Izolan, cornerstone of the region’s future success." "Though at first sight a medium-size enterprise with only 150 employees, Dow Izolan contributes 3% of the gross regional product and is one of the 10 largest taxpayers in the Vladimir region," concluded Vladimir Kiselev.
Dow Izolan was recently recognized by the Russian Union of Industrialists and Entrepreneurs for sustainable dynamics of business development, and continues to be a leader in Russia and CIS in the research, development and commercialization of tailored polyurethane systems solutions used for a broad range of applications. Currently the company is considering plans to increase investments into local production and diversify product portfolio within the period from 2013 to 2017.
About Dow Izolan
Dow Izolan is the joint venture company formed in 2006 by one of the world’s leading chemical company The Dow Chemical Company (Dow) and the Scientific Manufacturing Company Izolan Ltd., a leading Russian producer of polyurethane systems. Leveraging Dow Formulated Systems global technological leadership and raw materials back integration, and Izolan market experience and strong focus on local customers, Dow Izolan is a leader in the polyurethane components market in Russia and the CIS. Established in 2006, and employing 150 employees, Dow Izolan offers a wide range of products to a thousand of customers in various industries including construction, automotive, shipbuilding, and refrigeration equipments in Russia, Belorussia, Ukraine, Kazakhstan, Uzbekistan, Kirgizia, Tajikistan, Armenia, Moldavia and Azerbaijan. More information about Dow Izolan can be found at www.dow-izolan.com.
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.
About Dow in Russia and CIS
With almost 40 years of continued presence in Russia and CIS, and supported by its experience, size and global presence, Dow is passionately committed to further developing closer partnerships with the local companies to keep growing the business, while significantly accelerating the growth of the chemical industry in the region and to jointly increasing its competitiveness in an international context. In 2011, Dow had annual sales of about 770 mln. USD and employed approximately 260 highly qualified specialists in Russia and CIS. In addition to its representation offices in Moscow (Russia), Kiev (Ukraine) and Astana (Kazakhstan), the Company has two manufacturing facilities in Ramenskoye (Moscow Region) for the production of additives for paints and coatings, and in Vladimir where the Dow Izolan joint venture company inaugurated in 2009 its new, large and state-of-the-art manufacturing plant for the production of polyurethane systems. More information about Dow can be found at www.dow.ru.
For editorial information:
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