19 January 2007 – The Dow Chemical Company has started production at a facility in Kryukovo, roughly 40km from Moscow.
The plant is Dow’s first in Russia and it will produce Styrofoam, the company’s extruded polystyrene insulation board.
“Our strategic aim is to establish Dow as an important and integral player in the building industry in Russia,” said Kostas Katsoglou, business president, Dow Building Solutions.
Dow began operating in Russia in 1974, a statement said. The company had combined sales of $350m in Russia and the Commonwealth of Independent Sates (CIS) in 2005, which was a 50% increase on 2004.
Last year, Dow and Russian polyurethane specialist Izolan announced a joint venture (see PRW.com 9 August 2006). Dow Izolan is expected to require more than one hundred employees and there are plans to build a new production plant close to Vladimir, a city 170km northeast of Moscow, within the next two years.
