Dow Chemical India, Middle East & Africa posts 37% third quarter sales growth

Strategic regional investments helped Dow Chemical IMEA to achieve a record high third quarter growth rate when compared to other global regions.

Despite a nine% global drop due to the impact of Hurricanes Gustav and Ike in the USA, year-over-year sales volume for the IMEA region rose 21% when compared to the same period in 2007.

The IMEA region was the only region to witness an increase in sales volume.

"Dow performed well in the third quarter despite a difficult economy and increased costs," said Andrew N. Liveris, Dow's chairman and chief executive officer.

"Our ability to take proactive measures, including the implementation of two broad-based price increases and aggressive cost controls, allowed us to post solid results against worsening market conditions, record high raw material costs and two hurricanes on the U.S. Gulf Coast."

Commenting regionally, John Dearborn, president, Dow Chemical IMEA, said:

"At Dow, we provide the building blocks, technologies, and solutions for the rapidly growing and diverse population of the Middle East. This makes us a fundamental agent for this region's transformation. As we enter our third decade of joint venture partnerships in the Middle East, we continue to work closely with each of our partners to deliver on our commitment to innovation and growth."

About Dow Chemical in the Middle East
Dow has eight current and proposed Middle East joint ventures in the UAE, Egypt, Kuwait and Libya as well as in Saudi Arabia, where Saudi Aramco and Dow are in the formation process of a joint venture 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 1970's to its facility in Jebel Ali in Dubai and its 10-year partnership in Kuwait with EQUATE, Dow has managed to establish a solid presence in the Middle East petrochemicals industry.