Dow makes its largest ever investment in Brazil
Date added: 21st July, 2011 at 13:38
(view all articles from July, 2011)
Categories: Economy, Natural Resources
The Dow Chemical Company has made its largest ever investment in Brazil by partnering with Japanese firm Mitsui on a new venture.
Mitsui will become a 50 per cent stakeholder in Dow's sugar cane growing business in the region of Minas Gerais.
This is just one of the operations the American firm conducts in the Latin American country, where it has been investing for more than 50 years.
Andrew Liveris, chairman and chief executive officer at Dow, said: "This landmark move underscores Dow's commitment to invest for growth in high-value, innovation-rich sectors through strategic partnerships."
Ethanol production in Minas Gerais will be focused on first before a facility is built to create biopolymers made from the substance.
The initial step toward this aim is to construct a new ethanol production plant in Santa Vitoria and the firms say the product they will come to manufacture will be a more environmentally-friendly alternative to packaging.
Brazil's National Petroleum Agency ANP recently published new guidelines that are designed to reduce seasonal dips in ethanol production.
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