Andrew Liveris Discusses Growth Opportunities in Saudi Arabia
November 21 2016 - 3:14PM
Business Wire
During a recent visit to the Kingdom of Saudi Arabia, Andrew
Liveris, Dow’s Chairman and Chief Executive Officer, met with His
Royal Highness, the Deputy Crown Prince of Saudi Arabia, Mohammad
bin Salman Al Saud, Second Deputy Premier and Minister of Defense,
to discuss Dow’s existing investments in the Kingdom and potential
future opportunities aligned to the Company’s growth strategy and
Saudi Arabia’s Vision 2030.
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Andrew Liveris, Dow’s Chairman and Chief
Executive Officer, met with His Royal Highness, the Deputy Crown
Prince of Saudi Arabia, Mohammad bin Salman Al Saud, Second Deputy
Premier and Minister of Defense, to discuss Dow’s existing
investments in the Kingdom and potential future opportunities
aligned to the Company’s growth strategy and Saudi Arabia’s Vision
2030. (Photo: Business Wire)
“Dow has been a strategic partner in Saudi Arabia for nearly
four decades and is the largest foreign investor in the country,”
said Liveris. “We look forward to playing a key role in helping
advance the Saudi’s Vision 2030 plan designed to create a vibrant
society and a thriving diversified economy.”
In June, Dow became the first company to receive a trading
license from the Government of Saudi Arabia, allowing 100 percent
ownership in the country’s trading sector, expanding Dow’s long
history of partnership and investment in the Kingdom. Aligned to
Saudi Arabia’s strategy to diversify its economy and address
challenges brought by lower global energy prices, the trading
license advances Dow’s ability to deliver high-value, innovative
products that will benefit the country in the areas of sustainable
development, energy-efficiency, oil and gas, alternative energy and
water.
Dow maintains several joint ventures in the region including a
joint venture with Juffali & Brothers, and Saudi Acrylic
Monomer Company (SAMCo). Additional strategic investments in the
country include Sadara Chemical Company (Sadara), Dow’s joint
venture with Saudi Arabian Oil Company (Saudi Aramco), agreements
with King Abdullah University of Science and Technology (KAUST) to
construct a new Dow Middle East Research and Development Center,
and a Reverse Osmosis manufacturing facility – the first unit of
its kind outside of the United States.
Dow currently has more than 500 employees in Saudi Arabia.
About Dow
Dow (NYSE: DOW) combines the power of science and technology to
passionately innovate what is essential to human progress. The
Company is driving innovations that extract value from material,
polymer, chemical and biological science to help address many of
the world's most challenging problems such as the need for clean
water, clean energy generation and conservation, and increasing
agricultural productivity. Dow's integrated, market-driven,
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 180 countries and in high-growth sectors such as
packaging, electronics, water, coatings and agriculture. In 2015,
Dow had annual sales of nearly $49 billion and employed
approximately 49,000 people worldwide. The Company's more than
6,000 product families are manufactured at 179 sites in 35
countries across the globe. On June 1, 2016, Dow became the 100
percent owner of Dow Corning Corporation’s silicones business, a
global company with sales of greater than $4.5 billion in 2015, 25
manufacturing sites in 9 countries and approximately 10,000
employees worldwide. 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.
®TM Trademark of The Dow Chemical Company (“Dow”) or an
affiliated company of Dow
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