Dow Corning lands speciality award
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Dow Corning product story
Edited by the Engineeringtalk editorial team
Dec 7, 2005
Dow Corning named Specialty Chemicals Company of the Year by Frost and Sullivan due to its ability to drive innovation, its customer approach, success in geographic expansion and financial results.
Dow Corning has been named Specialty Chemicals Company of the Year by analyst Frost and Sullivan due to its ability to drive innovation, its customer approach, success in geographic expansion and financial results.
"Dow Corning has exhibited outstanding management, consistent growth, and positive social and economic impact on local and international communities and customers," said Frost and Sullivan analyst Gordon McManus.
"They have the exceptional know-how to take advantage of market changes through execution of innovative strategies within the existing competitive landscape".
Stephanie Burns, Dow Corning President and CEO, added: "This award signifies the hard work, dedication, and commitment to innovation that is shared by all our employees".
Frost and Sullivan bases its awards on criteria such as degree of strategy innovation, technological innovation and leadership, market potential, proof of success, new market penetration and company visibility.
Frost and Sullivan named Dow Corning's more than 7000 silicon-based products as a factor differentiating it from the rest of the industry.
Success in geographic expansion was another area highlighted by the analyst, noting Dow Corning had invested, partnered and provided customers in emerging countries with the same level of support offered in the US and Europe.
In terms of financial performance, through the first three quarters of 2005 adjusted net income was $375.5m, 79% higher than the $209.8m in the same period of 2004.
Sales through the first three quarters of 2005 were $2.9bn, an increase of 18% from sales of $2.5bn in the same period last year.
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