Dow chemical works 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 Company (New York Stock Exchange code: Dow) and Longxiang Group Holdings Co., Ltd. (Hong Kong stock exchange code: 935), one of China's large comprehensive chemical logistics service providers, recently signed a memorandum of cooperation in Tianjin, proposing to jointly build Dow Chemical Tianjin logistics center in Nangang Industrial zone of Tianjin Binhai New Area. The project is planned to invest 200 million US dollars, and will become the first chemical logistics center of Dow in China, and also the largest chemical logistics center of Dow in the world. The project will play the role of a strategic logistics center and 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 localized 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 the corresponding regions in Greater China."

It is reported that the Tianjin logistics center project covers an area of 50 hectares and can be directly connected to the deep water area and the railway system. The annual cargo throughput can reach 6 million to 9 million tons. When all are completed and put into use, the center needs to employ more than 300 skilled technicians. Tianjin logistics center will also adopt advanced design and high industry standards to ensure the safety and environmental protection of its daily operation.

Dow Chemical and Longxiang group will submit project applications 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 required 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 Co., Ltd. to set up a business service center in Tianjin to further improve its extraordinary business operation ability and better serve Dow's customers in China, Dow's business departments and joint ventures.

It is understood that Dow's sales in Greater China reached a new high in 2010, exceeding US $4 billion, and it is expected to continue 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. It uses science, technology and the power of "human element" to constantly 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 saving 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 with a wide range of products and services, which are applied to the rapidly developing markets such as electronic products, water treatment, energy, coatings and agriculture. In 2010, Dow's annual sales volume was US $53.7 billion, with about 50000 employees worldwide, 188 factories 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 terminal and storage services. Currently, it operates three terminals in Nanjing, Tianjin and Ningbo, and provides comprehensive and detailed services for the delivery of high-quality liquid chemicals, including loading and unloading of liquid chemicals at the group's own terminals and storage of liquid chemicals in its own tank farm, as well as the delivery of related products using special pipelines and other terminal infrastructure.