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Dow Chemical Joins Hands with Longxiang Group to Build a Logistics Center in Tianjin
Dow Chemical accelerated its business development in China and signed a memorandum of cooperation with Longxiang Group on Tianjin Logistics Center project
Sohu Financial News Dow Chemical Co., Ltd. (New York Stock Exchange code: DOW) and Longxiang Group Holdings Co., Ltd. (Hong Kong Stock Exchange code: 935), one of the largest comprehensive chemical logistics service providers in China, 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 planned investment of the project is 200 million dollars, which will become the first chemical logistics center of Dow in China and the largest chemical logistics center of Dow in the world. The project will play the role of a strategic logistics center to strongly support Dow's continued strong business growth in Greater China and North Asia.
Shi Botao, President of Dow Chemical Greater China, said: "Dow Chemical is increasing its investment in China, strengthening its local production and supply chain network, and accelerating our development in China. The Tianjin Logistics Center will play a strategic role, so that we can better meet the needs of the local market. As a vital logistics center, the project will ensure that we can quickly and efficiently transport chemical raw materials and finished products from abroad to 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 the railway system. The annual cargo throughput can reach 6 million to 9 million tons. When it is fully completed and put into use, the center will employ more than 300 skilled technicians. Tianjin Logistics Center will also adopt advanced design and the highest industry standard to ensure the safety and environmental protection of its daily operation.
Dow Chemical and Longxiang Group will submit the project application form to the government for 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 land space needed for expansion, which can be expanded into Dow's future logistics center in the east coast to support the company's future investment and development in China.
At present, Dow is vigorously strengthening its supply chain system in China. In April this year, Dow cooperated with Tata Information Technology Corporation to open a business service center in Tianjin to further improve its excellent business operation capability and better serve Dow's customers in China, Dow's business departments and joint ventures.
It is understood that the sales volume of Dow Greater China reached a new high in 2010, exceeding 4 billion US dollars, and is expected to maintain double-digit growth in the next few years. At present, Greater China is Dow's second largest international market in the world. Dow has 18 production bases and 6 business centers here.
About Dow
Dow is a diversified chemical company, which uses the power of science, technology and "human element" to continuously improve the basic elements that promote human progress. The company applies the principle of sustainability to chemistry and innovation, and is committed to solving many challenges facing the world today, such as meeting the demand for clean water, realizing the production and conservation of renewable energy, and improving crop production. With its leading businesses in special chemistry, high-tech materials, agricultural science and plastics, Dow provides customers in about 160 countries and regions around the world with a wide range of products and services, which are used in high-speed developing markets such as electronic products, water treatment, energy, coatings and agriculture. In 2010, Dow's annual sales volume was 53.7 billion US dollars, with about 50000 employees worldwide, 188 factories operating in 35 countries, and more than 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), founded in 1990, is one of the largest comprehensive chemical logistics terminal service providers in China. Longxiang Group provides comprehensive liquid chemical terminals and storage services. At present, it operates three terminals in Nanjing, Tianjin and Ningbo respectively, and provides comprehensive and detailed services for the delivery of high-quality liquid chemicals, including loading and unloading liquid chemicals at the Group's own terminals, storing liquid chemicals in its own tank farms, and delivering related products using special pipelines and other terminal infrastructure.
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