Dow's Dealmaker: A new vision in the region

The collaboration between EQUATE and The Dow Chemical Company goes back to 2001 when Dow acquired Union Carbide Corporation (UCC).
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Markus Wildi, president of The Dow Chemical Company in the Middle East, says strategic JVs offer fantastic prospects & Kuwait remains a land of opportunity.

Despite the cancellation of the US$17bn K-Dow joint venture in December 2008 with PIC of Kuwait, The Dow Chemical Company has continued to build on its strong regional presence, mainly in Kuwait and Saudi Arabia.

Given the importance of the region in the company’s portfolio, Dow has appointed Markus Wildi as its new president for operations in the region, which he holds in addition to his position as vice president of corporate development for the company’s operations in Kuwait.

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“I have recently been tasked with additional responsibilities for the group’s business in the region,” explains Wildi.

“In my new role as president for Dow in the Middle East, I oversee the company’s operations in the region including the successful development and implementation of the company’s strategy. The Middle East has always been an integral region for us so part of my mandate will be to develop new business opportunities across multiple industry sectors relevant to our business,” he explains.

His duel-role is considered one of the top jobs globally for the chemical super-giant, and Wildi reports directly to Andrew Liveris, chairman and CEO of The Dow Chemical Company.

The collapse of the proposed K-Dow project in 2009 has not altered the vision of Dow toward the Kuwaiti market, and Wildi describes his mission in Kuwait as a special, crucial challenge for the company. “My main responsibilities are to build upon our local presence, enhance brand image and position, identify and evaluate new business potential in Kuwait while providing oversight of the company’s existing joint ventures in the country,” says Wildi.

Dow has a longstanding relationship with the Middle East beginning with the establishment of manufacturing and commercial facilities in the UAE and Egypt more than 30 years ago.

“Worldwide, we have over 60 years of experience in managing successful partnerships and joint ventures. Today we have 62 successful joint ventures around the world, which are integral to our global reach,” he reveals.

The company’s major regional investments are today in Kuwait and in the Kingdom of Saudi Arabia. “We have partnered with Petrochemical Industries Company K.S.C. (PIC) of Kuwait on six joint ventures and are in the JV formation process of world-scale manufacturing complex in Saudi Arabia’s Eastern Province,” he explains.

For nearly 15 years, Dow and PIC have shared one successful milestone after another, partnering on six industry-leading joint ventures. “Our JVs with PIC combine Dow’s strong existing asset base, technology position and global market reach and presence.

Our strategy of working with local partners to set up state-of-the-art petrochemical complexes in Kuwait demonstrates our commitment to transforming the regional petrochemical landscape while supporting regional employment objectives and economic diversification agendas.”

In Saudi Arabia, Dow has a significant stake in the Saudi Acrylic Monomer Company (SAMCo), a JV with Tasnee and Sahara Olefins Company, which will produce 250 000 t/y of acrylic acid. Dow’s share was originally held by Rohm and Haas, which Dow acquired in April 2009.

Also in Saudi Arabia, Dow recently signed a business alliance with regional industrial conglomerate E.A. Juffali & Brothers to construct a polyol blends plant in Jeddah. This manufacturing expansion combines the company’s polyurethane systems and epoxy systems capabilities.