Sep 09, 2008: Dow Izolan Ceremony in Vladimir

On September 9, 2008, AmCham President Andrew Somers participated in a Dow Izolan groundbreaking ceremony in Vladimir city, 180 km from Moscow. Dow’s investment in a new plant for the production of polyurethane systems is approximately $40 million and the company expects to employ 130-140 people in the next twelve months.

During the ceremony he told the assembled group: “It is in the interest of all parties to develop a dialogue and to keep it open, identifying common areas for development.” Mr. Somers acknowledged that Russian and U.S. political and business interests do not always seem to converge, but added that engagement and cooperation were in the ultimate interests of all parties.

Mr. Somers encouraged participants to take note of the strong relations forged through international business cooperation. “This ceremony is the best response to any doubts about the real substance of the relations between Russia and the United States,” he said. "This is a good example of combining the global experience and technical expertise of Dow and it’s Russian partner Izolan, supported by the regional and municipal administration."

According to Pat Dawson, President of the Dow Polyurethanes Business, the company is highly committed to Russia and the CIS and views this market as key area for growth. In 2006, the Dow Chemical Company established a joint venture with the Scientific Manufacturing Company Izolan Ltd., the leading Russian producer of polyurethane systems. The Dow Izolan JV is the leader in the polyurethane components market in Russia and the CIS, offering a range of products to more than 700 regional customers, including construction, automotive, shipbuilding, and refrigeration-equipment companies. The company’s turnover in the Russian Federation in 2007 was approximately $560 million, almost 50 percent higher than 2006, confirming a consistent growth trend in recent years.

Event Photographs

Pat Dawson, President of the Dow Polyurethanes Business Andrew Somers, President of the American Chamber of Commerce in Russia