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Dow Chemical bullish about Asia Pacific sales growth
By Richard Fu |
March 21, 2012, Wednesday
|
Online Edition
Online Edition
DOW Chemical Co expects sales from its Advanced Materials division to grow 12 percent annually in Asia Pacific by 2016, an executive of the largest US chemical maker said.
The division, created with the acquisition of specialty chemicals maker Rohm and Haas, generated sales of US$3.5 billion in Asia Pacific in 2011, of which around 36 percent was from China.
Regional sales are expected to reach US$6 billion by 2016, Jerome Peribere, chief executive of the Advanced Materials division and an executive vice president of Dow Chemical, said in an interview in Shanghai yesterday.
"Our 2012 priority is to commercialize our innovations and do prudent investments until we understand better where the global economy is going," Peribere said, as he struck a note of caution on global economic recovery.
He said the global economy and businesses in many of the sectors for Advanced Materials have started to improve after a dramatic slowdown in the final quarter of last year, but "we don't understand at what pace this improvement is coming."
The division, which provides materials and solutions to a wide range of industries ranging from coatings to buildings and electronics, accounts for about a fifth of Dow's global sales. Customers include local cosmetics maker Shanghai Jahwa and South Korean conglomerate LG.
The division, created with the acquisition of specialty chemicals maker Rohm and Haas, generated sales of US$3.5 billion in Asia Pacific in 2011, of which around 36 percent was from China.
Regional sales are expected to reach US$6 billion by 2016, Jerome Peribere, chief executive of the Advanced Materials division and an executive vice president of Dow Chemical, said in an interview in Shanghai yesterday.
"Our 2012 priority is to commercialize our innovations and do prudent investments until we understand better where the global economy is going," Peribere said, as he struck a note of caution on global economic recovery.
He said the global economy and businesses in many of the sectors for Advanced Materials have started to improve after a dramatic slowdown in the final quarter of last year, but "we don't understand at what pace this improvement is coming."
The division, which provides materials and solutions to a wide range of industries ranging from coatings to buildings and electronics, accounts for about a fifth of Dow's global sales. Customers include local cosmetics maker Shanghai Jahwa and South Korean conglomerate LG.
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