Dow: China to become its biggest market
20 September 2005
America's largest chemical company, Dow Chemical, said it expects double-digit sales growth in China in the next few years, and said that its China unit is likely to merge with other chemical companies in China, reported the trade portal chempoint.com, citing Dow Chemical president and chief executive Andrew Liveris. Currently Dow's third-largest market after the US and Germany, China may become the company's biggest market by 2030, Liveris said. Dow recorded US$2.2 billion in China sales in 2004, up nearly 40% from the previous year. Dow said it plans to establish a research and development center in Shanghai, in addition to the 10 factories and business centers already established in five major Chinese cities.