Home / Knowledge / News / Textiles / Mr Fitterling appointed as CEO for JV of Dow and PIC
Mr Fitterling appointed as CEO for JV of Dow and PIC
22
Jul '08
The Dow Chemical Company and Petrochemical Industries Company (PIC) of the State of Kuwait, a wholly owned subsidiary of Kuwait Petroleum Corporation (KPC), continue to make progress on their $11 billion proposed 50:50 joint venture.

The two companies named James R. Fitterling the chief executive officer of the new market leading global company - K-Dow Petrochemicals (KDP). Dow and PIC also announced the selection of Michigan as the location of the world headquarters for the new joint venture, subject to the approval of state and local incentives and the completion of definitive agreements, customary conditions, regulatory approvals, and transaction close, which is anticipated in late 2008.

James R. Fitterling Named CEO
Fitterling is currently the business group president for Dow Basic Plastics and a member of the Company's Management Committee and Business Operations Committee. He has held a variety of key leadership positions during his 24-year career with Dow. Fitterling will become CEO when the joint venture begins operations.

"Jim's vast experience with Dow and the industry, in the basic plastics businesses, several joint ventures, international assignments, and executive leadership roles are the ideal qualifications Dow and PIC sought in a leader for K-Dow Petrochemicals," said Andrew N. Liveris, Dow chairman and CEO.

Michigan Selected for Headquarters
The city location for the headquarters is still to be determined; however the venture will be located in southeast Michigan, pending final incentive approvals, which offers convenient international airport access as well as a broad range of educational opportunities and culturally diverse communities. The total number of employees located at the headquarters site is expected to expand up to 800 employees over the next several years.

"For decades The Dow Chemical Company has been an important part of Michigan's economy by creating jobs and investing in our communities," said Governor Jennifer M. Granholm. "K-Dow Petrochemicals, which will bring hundreds of jobs to our state, would rank in the top half of the Fortune 500 if it was publicly traded, and the fact that it will be headquartered here is good news for Michigan."

"From PIC's perspective, we were especially impressed by the welcoming attitude and innovative spirit toward this new global enterprise shown by the state of Michigan," said Maha Mulla Hussain, Managing Director of PIC. "The selection process was thorough and thoughtful, and Dow and PIC made the decision together based on the location that could best support the JV's success."

Liveris also characterized the companies' joint selection of the headquarters location as "consistent with the positive business environment in the state of Michigan, where Dow has more than 110 years of history."

"Dow and PIC chose Michigan for the global headquarters based on criteria related to the state and region's access to international markets, presence of a talented and culturally diverse workforce, and attractive business environment," said Liveris.

Must ReadView All

Apparel/Garments | On 27th Apr 2017

Boohoo's revenue increases 51% to reach £294.6 mn

Fashion e-commerce marketplace Boohoo has recorded a 51 per cent...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Apparel/Garments | On 27th Apr 2017

Amazon catching up with Flipkart in India: RedSeer

Online marketplace Amazon India has caught up with its biggest rival...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search