The Dow Chemical Company (NYSE:DOW) announced today it will expand its operations in Africa by opening offices in Algeria and Ghana.
A statement from the company said the new sales offices would complement existing Dow operations in Egypt, Kenya and South Africa, where the company had more than 50 years of operating history and employs more than 240 people. It noted that the expansion supported Dow’s commitment to growth from emerging geographies, bringing the company closer to its growing customer base in Africa. The statement said the decision to open the new offices and employ more sales staff in Africa followed a dedicated study to identify opportunities and to finalize an operating structure that would deliver maximum effect and return for the company in Africa.
“This is directly in support of the Dow business strategy to multiply sales in the medium term.”
Dow’s Chairman and CEO Andrew Liveris was quoted as saying that with a population of over one billion people, significant and consistent economic growth rates over the last 10 years and improved corporate governance and transparency, Africa presented a great opportunity for Dow to expand its focus and participation on the continent.
“This expansion signifies Dow’s commitment to investing in the needs of growing regions to help our customers address tomorrow’s challenges today,’’ Liveris said.
Dow Africa President Stephane Paquier was also quoted as saying for more than 50 years, Dow had been meeting the needs of consumers, industries and governments in Africa, adding that from Cairo to Cape Town, Dow’s products and technologies had provided solutions customers’ challenges.
“Today, with its wealth of resources, strong growth, emerging middle class and the growing private sector, Africa represents an important opportunity for Dow,” she added.
“During the last year, we have observed a significant spike in orders from existing and new customers. We expect this growth to continue as we increase our presence and operations in Africa.’’
Dow Chemical combines the power of science and technology with the "human element" to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity.
Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture.
In 2010, Dow had annual sales of $53.7 billion and employed approximately 50,000 people worldwide. The Company's more than 5,000 products are manufactured at 188 sites in 35 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.
Source: Adom News
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