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Commenting on the Company's outlook, Dow's chairman and chief executive officer Andrew N. Liveris said: "Our outlook continues to reflect a strong international economy and a robust agricultural sector, which should counterbalance a soft U.S. economy. With more than two-thirds of Dow's sales and over 70% of our joint venture sales outside of the United States, our geographic balance provides a hedge against a further U.S. slowdown."
"The Middle East is rapidly becoming a global hub for the petrochemical industry as the region diversifies and enhances its economies,"
said John Dearborn, president, IMEA, The Dow Chemical Company. "The IMEA region at large is a major focal point for Dow's global plans as we see considerable opportunities here in the region for our products and services."
Dow has eight current and proposed Middle East joint ventures in the UAE, Egypt, Kuwait, Libya as well as in Saudi Arabia, where Dow and Saudi Aramco are in the negotiation phase for the formation of a joint venture company to build, own and operate a world-scale chemicals and plastics production complex in the Eastern Province. From the opening of its first commercial office in Cairo in the early 70s to its facility in Jebel Ali in Dubai and its 10 year partnership in Kuwait with EQUATE, Dow has established a solid presence in the Middle East petrochemicals industry.
Dow in the Middle East is committed to being an active community member and strongly supports the social and economic aspirations of the local communities in which it operates. Through the Company's strong alliances with organizations such as the Young Arab Leaders (YAL), Emirates Environmental Group (EEG) and Lothan Youth Achievement Center (LoYAC), Dow is committed to the betterment of the environment and humanity.
Posted by Anne-Birte Stensgaard, Senior News Editor
