July 31, 2013, 2:07 p.m. EDT
Major Commitment Reflects Investment in the Delaware Valley; Center to Support Innovation for Advanced Materials Portfolio of Businesses
PHILADELPHIA, Jul 31, 2013 (BUSINESS WIRE) -- Representing a new chapter in the company's storied history in the Delaware Valley, The Dow Chemical Company DOW +1.33% today inaugurated its brand new Northeast Technology Center (NTC) in Collegeville, Pennsylvania.
A world-class, state-of-the-art 800,000 square foot facility, the NTC is a global research and development hub of modern lab and office facilities providing a fully equipped, collaborative space for more than 800 employees and contractors. One of the largest sites of its kind in Dow's global network, the NTC will play a pivotal role as an innovation hub for many businesses in Dow's Advanced Materials portfolio - a business unit headquartered in Philadelphia, which brings differentiated solutions to customers in key end-markets including electronics, consumer and lifestyle, infrastructure and transportation and energy.
Speaking at a ribbon cutting event attended by more than 700 employees, contractors and community members, Pennsylvania Governor Tom Corbett said, "Today Dow is making clear that it is committed to Pennsylvania, as a place of business, as a center of research and development, and as a home of innovation. This tech center is part of something special happening all over our commonwealth. Businesses are coming here to become part of our economic comeback. That comeback has led to 130,000 private sector jobs being created; a recovery of more than 60 percent of the jobs lost during the great recession and unemployment at it the lowest rate since 2009. That's progress."
"The Northeast Technology Center is yet another example of Dow's continued commitment to innovation and collaboration," said Andrew Liveris, Dow Chairman and CEO. "Working at the intersection of the sciences, Dow scientists and technologists are bridging the gap between chemistry and technology to develop solutions to some of the world's greatest challenges."
Dow Executive Vice President and Advanced Materials Portfolio Leader Howard Ungerleider noted Dow has a heritage of innovation in the Delaware Valley: "More than fifty years ago, this region saw the invention of water-based acrylic emulsion technology, an innovation that revolutionized the way we make paint and became a national historic chemical landmark," said Ungerleider. "Today, as we gather in this new space, we can only imagine what kind of milestones we will reach in the next 50 years. It is exciting to know that this will be the point of discovery for many new innovations to come."
Dow in the Delaware Valley employs approximately 2,000 people, generates $1 billion in customer sales annually and has had a presence in the region for more than 100 years. Dow employees in the region play a significant role in innovative chemistry that betters lives and contributes to the quality of life in the tri-state area and its local communities. Products developed locally include: acrylic technology for paints, coatings and construction materials; products used to fabricate electronic chips; polymer technologies for personal care, as well as technologies for enhanced water purification and laundry care. The Company has already started moving employees from its Spring House Technical Center to the NTC and will continue the transition through 2014.
About Dow
Dow DOW +1.33% combines the power of science and technology 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 2012, Dow had annual sales of approximately $57 billion and employed approximately 54,000 people worldwide. The Company's more than 5,000 products are manufactured at 188 sites in 36 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
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http://cts.businesswire.com/ct/CT?id=bwnews&sty=20130731006411r1&sid=cmtx6&distro=nx
SOURCE: The Dow Chemical Company
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