Dow and Aker Kvaerner Sign Cooperation Agreement

Dow Technology Licensing and Aker Kvaerner today announced an agreement between Union Carbide Chemicals & Plastics Technology Corporation (UCCPTC), a subsidiary of The Dow Chemical Company, and Aker Kvaerner Netherlands BV to cooperate on delivering services to METEOR(TM) Ethylene Oxide /Ethylene Glycol (EO/EG) process technology licensees. The cooperation agreement will extend to helping potential licensees in the evaluation of METEOR EO/EG process technology and executing engineering, procurement and construction contracts for companies that sign licenses.

"METEOR EO/EG process technology is unique compared to other technologies, both because of the simplicity of its plant design and because of its EO catalyst, which provides the rare combination of high efficiency and activity. Aker Kvaerner has an excellent reputation as an engineering services provider and we are confident that, through this agreement, our customers and potential licensees will receive the highest levels of technical expertise, service and support," said Dr. Molly Peifang Zhang, vice president of Dow Technology Licensing.

"We are extremely pleased to be working with Dow for this technology. METEOR EO/EG process technology has proven to be the most competitive EO/EG technology in the marketplace, and we are convinced that, together with Dow, we can provide the best business solutions to our clients. Our existing relationship with Dow for polypropylene technology continues to be highly successful, and we see this new agreement as a natural extension of our relationship," said Wim van der Zande, president, AK Process.

"This is the first cooperative agreement Dow has signed with an engineering contractor for METEOR EO/EG process technology," said Joseph Bromley, business director, Dow Licensing Technology, METEOR(TM) and LP OxoSM Technology. "This agreement is a continuation of a strong relationship Dow has had with Aker Kvaerner and we are excited about the opportunity to have an increasingly productive relationship well into the future."

METEOR EO/EG process technology has a simpler design than other EO/EG technologies, resulting in significant savings for the company's licensees. Compared with other plant technologies, METEOR EO/EG process technology reduces equipment requirements and overall plot plan size, dramatically improves raw material utilization and requires less start-up capital. The simplicity of the METEOR process provides optimal reliability and ease of operation and maintenance.

® (TM) SM* Trademark of The Dow Chemical Company ("Dow") or an affiliated company of Dow.

Dow is a diversified chemical company which offers a broad range of innovative products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Dow has annual sales of $46 billion and employs 42,000 people worldwide.

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Posted 05/07/06

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