Dow Signs Agreement to Acquire Zhejiang Omex Environmental Engineering Co. Ltd., Increasing Its Water Components Portfolio

News.Dow.com (Associated Press)
PharmaManufacturing.com.
07/06/2006

The Dow Chemical Company (NYSE: DOW) and Zhejiang Omex Environmental Engineering Co. Ltd. (OEE) has announced that Dow has agreed to acquire OEE. This acquisition establishes Dow advancement in its offerings for water purification.

OEE will bring new critical components that, together with Dow’s existing technology offerings, will create the framework for a new Dow Water Solutions business. Terms of the agreement have not been disclosed.

The acquisition of OEE will allow Dow to expand into three critical, enabling component technologies for water treatment: Ultrafiltration (UF), Membrane Bio-Reactor (MBR) membranes, and Electrodeionization (EDI).

“Dow is a leader in reverse osmosis membranes and ion exchange resins, and this further solidifies our position as a water solutions leader through additional, specialized components,” said Ian Barbour, general manager, Dow Water Solutions. “Adding the technologies from OEE, along with the current expansion in FILMTEC™ membrane production capabilities in Minneapolis, Minnesota, further demonstrates Dow’s larger commitment to the water purification industry, and our ability to continue to lead as a global component supplier and solutions provider.”

“We clearly provide the leading reverse osmosis (RO) membrane with FILMTEC elements,” Barbour added. “The strategy for Dow is to expand our enabling components offering to be an even more valued supplier to our original equipment manufacturer (OEM) customer base. OEE allows Dow to move towards its strategic goals as a comprehensive component supplier for water purification.”

The acquisition of OEE, which is situated in Huzhou, Zhejiang, China, enables Dow to further penetrate one of the fastest growing regions for water treatment components. OEE has provided design engineering and installation for high-purity water facilities throughout China since 1995. It is one of China’s premier water treatment and design companies, specializing in pure and ultra pure water applications. With a new custom-built 20,000 square meter facility, OEE employs over 500 people, primarily in China, involved in manufacturing, design, engineering and fabrication

About The Dow Chemical Company

Dow is a diversified chemical company that harnesses the power of science and technology to improve living daily. The Company offers a broad range of innovative products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Built on a commitment to its principles of sustainability, Dow has annual sales of $46 billion and employs 42,000 people worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.