Dow Chemical plans to create R&D center in Skolkovo
ST. PETERSBURG. June 16 (Interfax) - The Skolkovo Fund and Dow Chemical have signed an agreement on plans to create a R&D center in Russia.
An Interfax correspondent reported from the signing ceremony during the St. Petersburg International Economic Forum that the fund's president, businessman Viktor Vekselberg, and Dow's president for Eastern Europe, Kostas Katsoglou, were the signees of this agreement.
"The model for involvement is clear. This concerns the creation of a research and development center as part of the Skolkovo Project," Vekselberg told journalists when asked about Dow Chemical's involvement in Skolkovo.
He added that the Russian fund will provide infrastructural support to Dow Chemical with the provision of laboratory equipment and office space. The fund will also put the company in touch with Russian universities and institutes.
Dow Chemical, in turn, will produce new technologies for its Russian plans and later sell them in Russia and on the world market.
The press conference materials said that the company plans, for instance, to carry out R&D work for boosting energy efficiency and technologies.
Dow Chemical is a multisector chemical company, which has clients in 160 countries. The company produces high-tech materials, special chemical goods and plastics. Total sales in 2010 came to $53.7 million, including sales in Russia, CIS and the Baltic ($764 million).
The company has its own polymer production facility in the town of Ramenskoye, as well as plant for polyurethane systems in Vladimir.