Dow Corning And WACKER Receive Government Approval to Build Siloxanes Facility in China
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Dow Corning Corporation (Midland, Michigan, USA) and Wacker Chemie AG (Munich, Germany) announce that their manufacturing joint venture company Dow Corning (Zhangjiagang) Co, Ltd. received official approval from the Chinese government to jointly build a world-class siloxanes manufacturing facility in China.
The new complex will be located in the Jiangsu Yangtze River Chemical Industrial Park, Zhangjiagang City, Jiangsu Province. Land preparation and early construction tasks are under way. It will benefit the growth of the silicone industry in China by providing a stable and quality supply of silicone basic materials, "building blocks" for many different products that are used by various industries. Dow Corning and WACKER also established another joint venture company to build and operate a fumed silica plant on this integrated manufacturing site.
The chemical park in Zhangjiagang provides distinct advantages, especially superb port facilities, and access to quality local talent. The companies very much appreciate the cooperation and support of Chinese government at local, provincial and central levels to help identify and approve construction of the new plant at this strategic location.
Under the joint venture agreement, Dow Corning will be responsible for the construction and development of the joint siloxanes production facility, and WACKER for the joint fumed silica plant. The silica plant is already under construction. Siloxane is a key starting material for the production of silicones. Major silicone application industries include: construction, chemicals, cosmetics, textiles, automotive, paper and electronics. Fumed silica is used as an active filler in silicone elastomers, as a viscosity-adjusting agent in coatings, printing inks, adhesives, unsaturated polyester resins and plastisols or as a flow aid, for example in the cosmetics, pharmaceutical and food-processing industries.
Dow Corning and WACKER each view the Asia region and China as a high priority geography with the potential for immense growth over the next several years. Investing in a state-of-the-art integrated siloxane and fumed silica manufacturing facility will help each of the companies to better serve their own downstream customers in this important region.
Dow Corning and WACKER will continue independently to serve their respective customers. Both companies will develop and operate separately their manufacturing facilities for finished products.
About WACKER WACKER (www.wacker.com) is a globally operating chemical company headquartered in Munich, Germany. With a wide range of state-of-the-art specialty products, WACKER is a leader in numerous industrial sectors. Its products support countless high-growth end-user sectors such as photovoltaics, electronics, pharmaceuticals and household/personal care products. The WACKER Group posted sales of around EUR 2.76 billion in 2005, of which some 80 percent were generated outside Germany. WACKER employs around 14,400 people at 22 production sites in Europe, the Americas and Asia, and about 100 sales offices worldwide. Wacker Chemie AG is listed at the Frankfurt (Germany) Stock Exchange (ISIN: DE000WCH8881).
About Dow Corning Dow Corning (www.dowcorning.com ) provides performance-enhancing solutions to serve the diverse needs of more than 25,000 customers worldwide. A global leader in silicon-based technology and innovation, offering more than 7,000 products and services, Dow Corning is equally owned by The Dow Chemical Company and Corning, Incorporated. More than half of Dow Cornings annual sales are outside the United States. It recorded $3.88 billion in global sales in 2005.
end of announcement euro adhoc 08.08.2006 13:00:52
Further inquiry note:
Wacker Chemie AG
Christof Bachmair
+49 (0)89 6279 1830
christof.bachmair@wacker.com
Dow Corning Corporation
Mary Lou Benecke (USA)
Tel. +1 989-496-8689
Marylou.Benecke@dowcorning.com
Karen Heenan-Davies (Europa)
Tel. +44 1446 723 498
Karen.Heenan_Davies@dowcorning.com
Liliana Ng (China)
Tel. +852-2835-0387
Lilian.Hg@dowcorning.com
Branche: Chemicals
ISIN: DE000WCH8881
WKN: WCH888
Index: CDAX, MDAX
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