| UPDATE | 19.06.03 |
| COMPANY |
- Dow Corning - Wacker Chemie |
| JV |
MIDLAND, Mich., and MUNICH, Germany –– Dow Corning Corp., Midland, Mich., and Wacker Chemie GmbH, Munich, Germany, announced their intent to form a joint venture in Asia to manufacture silicone intermediates and fumed silica for use in finished products for industrial and consumer applications. Dow Corning and Wacker said they would independently develop and operate their own manufacturing facilities for finished products at the same site. The companies would continue to compete and operate independently in the marketplace, both inside and outside of Asia. "We expect double-digit growth rates in Asia over the next several years," said Peter-Alexander Wacker, president and CEO of Wacker. "Today, our Asian network of more than 20 sales offices, seven technical centers and six production sites ensures a high level of customer proximity throughout the region. This alliance provides an excellent opportunity to better serve our customers in these key markets." |
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