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Dow Chemical in the Middle East reports fourth quarter and full-year 2008 results.

Summary: Region outperforms others as company sees record annual sales

Dow Chemical in the Middle East, a leading science and technology company, has announced regional sales of US$1.7 billion during the full year 2008, which is an increase of close to 14 percent from the previous year for the IMEA IMEA Illinois Music Educators Association
IMEA Integrated Munitions Effectiveness Analysis
IMEA Idaho Music Educators Association (Idaho chapter of the Music Educators National Conference) 
 region.

Globally, Dow reported record annual sales of $57.5 billion, 7 percent higher than $53.5 billion in 2007, setting another record for the Company. Volume was down 5 percent, with declines in all geographic areas except India, Middle East & Africa. Sales for the fourth quarter were down 23 percent from the same period last year to $10.9 billion. Volume declined 17 percent, and was down in all operating segments and in all geographic areas, reflecting the global economic downturn.

Commenting regionally, Earl Shipp, president, Dow Chemical IMEA, said: "We remain committed to our transformational strategy in the Middle East. By continuing to leverage our strong portfolio of joint ventures and market-facing performance business divisions, Dow is positioned for further growth and profitability in the region".

Dow Chemical in the Middle East - 2008 Highlights:

Corporate & Business

* Dow Chemical launched the Dow Oil & Gas business platform at the Abu Dhabi Abu Dhabi (ä`b thä`bē, zä–, dä–), Arab. Abu Zabi, sheikhdom (1995 pop. 928,360), c.  International Petroleum Exhibition & Conference (ADIPEC ADIPEC Abu Dhabi International Petroleum Exhibition Conference (United Arab Emirates) ), one of the world's largest petroleum events.

* Dow Wire & Cable, a global business of The Dow Chemical Company The Dow Chemical Company (NYSE: DOW TYO: 4850 ) is an American multinational corporation headquartered in Midland, Michigan. Overview
The Dow Chemical Company is currently the second largest chemical manufacturer in the World (after BASF)[1].
, introduced its complete portfolio of insulation, semi-conductive and jacketing compounds for high and extra high voltage The term high voltage characterizes electrical circuits, in which the voltage used is the cause of particular safety concerns and insulation requirements. High voltage is used in electrical power distribution, in cathode ray tubes, to generate X-rays and particle beams, to  underground cables in the Middle East.

* Dow Water Solutions showcased its innovative solutions portfolio and expanding Middle East presence at the Saudi Water & Power Forum.

* Dow in the Middle East launched DOWLEXao PE-RT, a class of polyethylene for pipe applications for elevated temperatures at the Middle East Plastic Pipes conference.

Community Success

* Through its charitable arm, The Dow Chemical Company Foundation, Dow Chemical committed KD 200,000 to the Lothan Youth Achievement Center (LoYAC) in Kuwait to provide the youth of Kuwait with unique opportunities to develop their personal growth.

* Dow continued to support the Young Arab Leaders (YAL YAL Yet Another Library
YAL Yttrium Aluminum Laser
) 'Arab and American Dialogue Program'. Key 2008 programs included the Global Action Forum and the Arab American Business Fellowship (AABF AABF Assembly Area Blocking Force (NATO C3 Technical Architecture) ).

Awards

* Dow Chemical in the Middle East was honored as the winner of the 'Employer of the Year' category at the 2nd Middle East Business Achievement (MEBA MEBA Marine Engineers Beneficial Association
MEBA Mississippians for Economic and Beverage Advancement
MEBA Myoclonic Epilepsy, Benign Adult Familial
MEBA Metro-East Baptist Association (Illinois)
MEBA Modern English for Baltic Adults
) Awards.

* Dow Chemical in the Middle East won a prestigious honor at the Middle East HR Summit Excellence Awards ceremony. Dow topped the 'HR Initiative of the Year' category and was also named the runner-up for the 'Employer of the Year' category.

* Dow in Middle East won the 'Best Workplace Practices' award at the 5th CSR (1) (Customer Service Representative) A person who handles a customer's request regarding a bill, account changes or service or merchandise ordered. Agents in call centers are known as CSRs. See call center.  Summit 2008 in Dubai in recognition of the company's innovative and distinctive internal practices.

* Dow was presented with an Emirates Environmental Group (EEG EEG: see electroencephalography. ) annual award, which recognized Dow's commitment to protecting the environment.

2009 Mena Report (www.menareport.com)

2009 Al Bawaba (Albawaba.com)

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Publication:Mena Report
Article Type:Company overview
Date:Mar 10, 2009
Words:496
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