 |
 |
||||||
[June 2003]
Dow Corning and Wacker Plan Strategic Alliance for Materials Production in Asia
Dow Corning Corporation (Midland, MI, USA) and Wacker Chemie GmbH (Munich, Germany) announced on 28 May 2003 their intention to form a joint venture in Asia. The goal of the venture is to manufacture silicone intermediates and fumed silica, used in thousands of finished products for industrial and consumer applications.
The companies want to jointly develop world-class manufacturing of basic materials. Each company will bring its expertise and technology to develop what is planned to be the leading, fully integrated silicone intermediates and silica site in Asia.
The companies believe that the cost and quality advantages of an integrated site in the region will benefit local customers and help further develop local markets and communities.
Dow Corning and Wacker will independently develop and operate their own manufacturing facilities for finished products at the same site. Each company will continue to compete and operate independently in the marketplace, both inside and outside of Asia.
"Dow Corning has had a physical presence throughout Asia for many years and this new move demonstrates ongoing commitment to our customers in the region," said Chairman and CEO Gary Anderson. "Asia is critical to the growth of silicon-based materials in the 21st Century, and this alliance is very exciting."
Peter-Alexander Wacker, the President and CEO of Wacker Chemie, said: "Today, our Asian network of more than 20 sales offices, seven Technical Centers and six production sites ensures a high level of customer proximity throughout the region. This alliance provides an excellent opportunity to better serve our customers in these key markets".
Finalising the alliance is subject to completing definitive agreements and the necessary regulatory and government approvals.
ENDS