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Dow Chemical Joins Hands with Longxiang Group to Build a Logistics Center in Tianjin

Dow Chemical accelerates its business development in China and signs a memorandum of cooperation with Longxiang Group for the Tianjin Logistics Center project

Sohu Finance News: Dow Chemical Company (New York Stock Exchange code: DOW) and Longxiang Group Holdings Limited (Hong Kong Stock Exchange code: 935), one of China's largest comprehensive chemical logistics service providers, recently signed a memorandum of cooperation in Tianjin to jointly build Dow Chemical Tianjin Logistics Center in Nangang Industrial Zone, Binhai New Area, Tianjin. The project plans to invest 200 million US dollars and will become Dow's first chemical logistics center in China, as well as Dow's largest global chemical logistics center. This project will play a strategic logistics center role and strongly support Dow's sustained strong business growth in Greater China and North Asia.

Shi Botao, President of Dow Chemical Greater China, said, "Dow Chemical is increasing investment in China, strengthening local production and supply chain networks, and accelerating our development in China. The Tianjin logistics center will play a strategic role, allowing us to better meet the needs of the local market. As a crucial logistics center, this project will ensure that we can quickly and efficiently transport chemical raw materials and finished products from overseas to the corresponding regions in Greater China."

It is reported that the Tianjin Logistics Center project covers an area of 50 hectares and can directly connect to deep-water areas and railway systems. The annual cargo throughput can reach 6 to 9 million tons. When fully completed and put into use, the center will need to hire over 300 skilled technical personnel. The Tianjin logistics center will also adopt advanced design and the highest industry standards to ensure the safety and environmental friendliness of its daily operations.

Dow Chemical and Longxiang Group will submit project applications for government approval in the second half of this year. The first phase of the project is expected to be put into operation in 2016. At the same time, the project also has the necessary land space for expansion, which can be expanded into Dow's future logistics center on the eastern coast to support the company's future investment and development in China.

Currently, Dow is vigorously strengthening its supply chain system in China. In April of this year, Dow collaborated with Tata Information Technology Company to open a business service center in Tianjin, in order to further enhance its excellent business operation capabilities and better serve Dow's customers in China, Dow's various business departments, and joint ventures.

It is understood that Dow's sales in Greater China reached a new high in 2010, exceeding 4 billion US dollars, and is expected to continue to maintain double-digit growth in the coming years. Currently, Greater China is Dow's second largest international market globally, with 18 production bases and 6 business centers.

About Dow

Dow is a diversified chemical company that utilizes the power of science, technology, and human elements to continuously improve the fundamental elements that drive human progress. The company adheres to the principle of sustainability in chemistry and innovation, committed to solving many challenges facing the world today, such as meeting the demand for clean water, achieving the production and conservation of renewable energy, and increasing crop yields. Dow, with its leading businesses in specialty chemistry, high-tech materials, agricultural science, and plastics, provides a wide range of products and services to customers in approximately 160 countries and regions worldwide, applied in rapidly developing markets such as electronics, water treatment, energy, coatings, and agriculture. In 2010, Dow's annual sales amounted to $53.7 billion, with approximately 50000 employees worldwide, operating 188 factories in 35 countries, and producing over 5000 products. Unless otherwise specified, "Dow" or "Company" refers to Dow Chemical Company and its subsidiaries.

About Longxiang Group

Longxiang Group (Hong Kong Stock Exchange code: 935) was established in 1990 and is one of the largest comprehensive chemical logistics terminal service providers in China. Longxiang Group provides comprehensive liquid chemical terminals and storage services, currently operating three terminals in Nanjing, Tianjin, and Ningbo, and providing comprehensive and meticulous services for delivering high-quality liquid chemicals, including loading and unloading liquid chemicals at the group's own terminals, storing liquid chemicals in its own tank areas, and delivering related products using dedicated pipelines and other terminal infrastructure.