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SUMITOMO NAUGATUCK TO BUILD NEW POLYCARBONATE PLANT, BE RENAMED

 SUMITOMO NAUGATUCK TO BUILD NEW POLYCARBONATE PLANT, BE RENAMED
 MIDLAND, Mich., Dec. 17 /PRNewswire/ -- The Dow Chemical Company (NYSE: DOW) and Sumitomo Chemical Co., Ltd. have announced that Sumitomo Naugatuck Co., Ltd. (SNKK), an Osaka, Japan-based joint venture of the two firms, will build a new plant to produce CALIBRE (a trademark of The Dow Chemical Company) polycarbonate (PC) resins in Japan using Dow technology.
 As a result, Dow's level of participation in SNKK will increase from 35 percent to 50 percent, and SNKK will be renamed Sumitomo Dow Ltd. by April 1992.
 The new plant's anticipated 40,000 metric-ton PC capacity will be the largest in Japan, and among the largest in the world. Construction of the plant, which will be built within Sumitomo Chemical's Ehime Plant complex, is slated for completion by early 1994. SNKK also plans to launch a large-scale compounding plant in the third quarter of 1993.
 Commenting on the announcement, Sumitomo Chemical President Hideo Mori said, "Local production of CALIBRE in Japan will strengthen Sumitomo Chemical's position as a broad-based resins supplier. This move is also in line with the company's long-term corporate strategy, which stresses, among other objectives, the concerted growth of the Sumitomo Chemical group companies."
 Anthony J. Carbone, group vice president, Dow Plastics, Dow U.S.A., said, "We are very pleased with the formation and progress of the SNKK joint venture. Combined with our CALIBRE facilities in the U.S. and Germany, the new Sumitomo Dow plant will strengthen Dow's overall position as a preferred engineering thermoplastics supplier to Japanese customers worldwide."
 Dow's increased involvement will also significantly strengthen its ability to provide service to global customers in both the automotive and durables markets.
 Dow and Sumitomo Chemical first announced plans to form a joint venture in April 1988. Dow became a 35-percent equity participant in SNKK, then a wholly owned subsidiary of Sumitomo Chemical which manufactured and marketed engineering plastics (ABS, AES and polymer alloys), latex and latex compounds. Initially, SNKK imported CALIBRE for local distribution, as well as to make and sell the compounds and PC/styrenics polymer alloys.
 CALIBRE polycarbonate resins have outstanding heat and impact resistance, weatherability and transparency. Because of their versatility, the resins are used in a broad range of applications, including home appliances, electronics, automobiles, and in the building and construction industry.
 The Dow Chemical Company, headquartered in Midland, is a diversified, worldwide manufacturer and supplier of more than 2,000 products, including chemicals and performance products, plastics, hydrocarbons and energy, and consumer specialties.
 Sumitomo Chemical Co., Ltd., headquartered in Osaka, is a leading chemical company with sales of more than 700 billion yen (1990), which supplies a variety of products, including basic chemicals, aluminum, fine chemicals, agricultural chemicals and advanced materials.
 -0- 12/17/91
 /CONTACT: Jennifer Allen, 517-636-2275, or Garret Geer, 517-636-0718, both of Dow Plastics/
 (DOW) CO: The Dow Chemical Company ST: Michigan IN: CHM SU: JVN


JG-SM -- DE013 -- 2901 12/17/91 11:07 EST
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Date:Dec 17, 1991
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