RUSNANO and The Dow Chemical Company sign memorandum of understanding

22 February 2011

Press release (Eng)

 

Moscow, - RUSNANO and The Dow Chemical Company (NYSE: Dow) through its wholly owned subsidiary Dow Europe GmbH have signed a memorandum of understanding to evaluate potential cooperation in fast-growing areas such as energy efficiency, infrastructure, light-weight materials, and life sciences.

Through this agreement, both companies will evaluate and define potential joint venture projects to pursue collaborative investments in Russia. The parties have also agreed to exchange technical and commercial information on up-and-coming activities. “Our goal is to develop commercially-meaningful joint projects that help to address key issues in Russia, and leverage Dow technology to support job creation and economic development,” stated Heinz Haller, Executive Vice President and Chief Commercial Officer of The Dow Chemical Company.

The Partners have already set priorities for joint potential projects. The emphasis will be on large-scale projects based on nanotechnologies with the aim of attracting cooperation from major corporations and regions in Russia and developing intellectual property.

Ongoing cooperation between RUSNANO and The Dow Chemical Company demonstrates potential collaboration to expand American engagement in the emerging economy of Russia. This type of mutually beneficial cooperation reinforces both companies’ commitment to further developing the local domestic market and advancing Russian industry’s integration into the world economy.

Dow (NYSE: Dow) combines the power of science and technology with the “Human Element” to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world’s most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow’s diversified 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 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2010, Dow had annual sales of $53.7 billion and employed approximately 50,000 people worldwide. The Company’s more than 5,000 products are manufactured at 188 sites in 35 countries across the globe. More information about Dow can be found at www.dow.com.