Dow named Specialty Company of the Year.MIDLAND, MI -- Dow Coming has been named Specialty Chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. Company of the Year by market analysts Frost & Sullivan. The market analysts highlighted Dow Corning's ability to drive innovation, its customer solutions approach, success in geographic expansion, and financial results as areas distinguishing the company. "We're proud to be recognized as a leader in the specialty chemicals industry," said Stephanie A. Burns, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president of Dow Corning Dow Corning is a multinational corporation headquartered in Midland, Michigan, USA. Dow Corning specializes in silicon and silicone-based technology, offering more than 7,000 products and services. Dow Corning is equally owned by The Dow Chemical Company and Corning, Inc. . "This award signifies the hard work, dedication, and commitment to innovation that is shared by all of our employees." Dow Corning was selected for the award based on Frost & Sullivan's measurement criteria, including factors such as degree of strategy innovation, technological innovation and leadership, market potential, proof of success, new market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" and company visibility. Frost & Sullivan said it was impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: with the chemical company's ability" to champion the use of innovative practices in all aspects of the business. Dow Corning seeks to derive approximately 20% of sales from products less than five years old, and spends roughly 6% of revenues on research and development. "We see innovation going far beyond new and improved products. We seek to drive innovation across all areas of our business," said Burns. Frost & Sullivan also focused on success in geographic expansion, noting Dow Corning has invested in resources and partnerships to provide customers in emerging countries with the same level of support and materials offered in the U.S. and Europe. EDITED BY ANDY ANDY Andrew ANDY US Popular Abbreviation for Andrews AFB SHAUGHNESSY |
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