Dow to Build Innovation Center Focusing on Silicone Science
The Dow Chemical Company will begin construction of a new, USD 100 million Innovation Center designed to drive innovation at the intersections of silicone science and organic chemistry at the heritage Dow Corning corporate campus in Midland, MI/USA.
The new facility will host approximately 200 research and development employees who will explore future technologies at the intersections of silicone chemistry and Dow’s unparalleled knowledge of materials science and organic chemistry. Dow, which started exploring silicone chemistry nearly 80 years ago upon creating the Dow Corning joint venture, enhanced its ability to combine these technologies after completing the ownership restructuring of Dow Corning in June, 2016. The new innovation center will be a key enabler in Dow achieving its initial USD 100 million growth synergy target, as well as more than USD 500 million of additional Dow-enabled bottom-line growth the Company now expects to achieve across the enterprise from integrating silicones into the Dow portfolio. This bottom-line growth, coupled with Dow’s latest cost synergy target of more than $650 million, greatly enhance silicones’ profitability. Dow now expects Ebitda to increase to more than USD 2 billion by the end of 2019 – more than double its initial projection.
On July 31, Dow also celebrated the grand opening of its new global headquarters building in Midland − a state-of-the-art, 184,000 square-feet, six-story building that will host approximately 470 employees and contractors.
The Dow Chemical Group Company
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