Dow Accelerates Innovation to Get Growth   

By Jenny Du   
"Dow reported record annual sales of US$53.5 billion in 2007, 9% higher than last year's record of US$49.1 billion. Dow achieved a net income of US$2.9 billion for the fiscal year 2007, compared with net income for 2006 of US$3.7 billion," released by Jim McIlvenny, the president of Dow Asia Pacific and Greater China at the media press held by The Dow Chemical Company in Beijing February. At the press, he made comprehensive conclusion about the development of Dow in 2007, in particular the development in the Asia Pacific and Greater China.
   In Greater China, Dow reported record annual sales of US$3.3 billion in 2007, compared with US$2.7 billion in 2006. Up to now, Dow has made a total investment of US$500 million currently and announced an additional investment of US$400 million in Greater China. In this region, Dow today has five business centers and ten manufacturing sites.
   2007 is an eventful year of growth for Dow China. On September 17th, the company announced a land reservation of 42 hectares with Shanghai Chemical Industry Park, part of which will be allotted for the construction of the world-scale 150 000 t/a glycerine-to-epichlorohydrin plant and 100 000 t/a liquid epoxy resins plant. (CCR2007, No.27) On May 14th, 2007 Shenhua Group and the Dow Chemical Company signed a cooperation agreement and announced their plans to build a world-scale coal-to-chemicals complex in Yulin, Shaanxi province, Northwest China. (CCR2007, No.16) Dow also set the standard for sustainability, such as donating ten "Project Hope" Schools and collaboration with Business Environmental Council & Peking University to conduct CSR Research Project. (CCR2008, No.3) By unleashing the "Human Element" in China in May (CCR2007, No.24) and sponsoring Blue Planet Run around the world which entered in Beijing in July 2007 (CCR2007, No.22), Dow won external recognition on Corporate Citizenship & Reputation.
   In 2008, Dow will continue to investigate the viability of participating in an integrated ethylene cracker project in China and highlight the innovation in the water solutions, building solutions, automotive, wind energy, personal care and food packaging, etc. To look forward 2008, Dow will see the completion of Dow center, whose construction was started at the end of 2006 in Zhangjiang Hi-Tech Park, Shanghai. (CCR2006, No.31) "The world-class facility will further strengthen the company's capability to offer unique and innovative solutions to meet rapidly evolving customer needs in China and the Asia Pacific area." said Jim McIlvenny confidently.