Midland, Michigan -- Dow Chemical Co. and Izolan Ltd. have formed a joint venture that will produce polyurethane products to a growing customer base in Russia.
The new company, Dow Izolan, will be based in Vladimir, Russia.
The firm plans to build a new, state-of-the-art production plant in the Vladimir area within the next two years.
Dow said the facility will produce a broad variety of polyurethane products.
The venture is expected to employ more than 100.
The deal is subject to regulatory and other customary approvals.
Dow Izolan will combine Dow's Polyurethane Systems business with Izolan´s strong local customer focus, product positioning and market experience, to become the leader in Russia´s polyurethane systems house marketplace, Dow said.
Financial and other details relating to the transaction were not disclosed.
From Rubber & Plastics News (A Crain publication)