Midland, Michigan -- Dow Chemical Co. says it has made significant strategic moves over the past six months, strengthening its long-term commitment and investments in its polyurethane business.
These strategic moves are ultimately designed to catapult the franchise in a continued growth trajectory within the next three to five years, Dow said in a 9 April news release.
The company recently appointed Mark Bassett, PhD as global vice president for Dow Polyurethanes. Bassett will be responsible for business strategy, as well as innovation and growth. Prior to this role, Bassett was the global vice president for Dow Oxygenated Solvents.
He began his career with Dow in 1989 when he joined Union Carbide Corporation, a wholly owned subsidiary of The Dow Chemical Company, in the Reaction Engineering Skill Centre.
"Mark has held leadership positions in a variety of Dow businesses and has a stellar track record for maximising business potential," said Torsten Kraef, president of Dow Thermosets. "I am confident our customers will benefit from Mark's business strategy expertise as we celebrate 75 years of polyurethane innovation and look forward to expand our franchise."
Dow also noted its significant investment in Saudi Arabia. In July 2011, it announced a joint venture with the Saudi Arabian Oil Company (Saudi Aramco), known as Sadara Chemical Company, which will be the largest integrated chemical complex site ever built in the world at one time with over 3 million tonnes of capacity.
The site will bring Dow's technology-differentiated polyurethane solutions to customers in emerging geographies such as China, the Middle East, Eastern Europe and Africa.
"With Sadara, Dow is investing in market-focused, customer-centric technologies and process optimisation," said new Dow Polyurethanes vice president, Mark Bassett. "Sadara allows us to offer our customers advanced technologies, supply capabilities and resources to grow with their customers' demand."