Dow Inc. is pulling back on its business in Russia because of the Ukraine crisis.
In a statement sent to Plastics News, officials with Dow in Midland, Mich., said that the firm "stands in solidarity with the people of Ukraine and denounces Russia's invasion of Ukraine."
They added that Dow, a major global resin supplier, had previously suspended all purchases of feedstocks and energy from Russia and has significantly reduced its operations and product offerings in the country.
Under the current circumstances, officials said, Dow has also stopped all investments in the region, and is only supplying "limited essential goods" in Russia, including food packaging, hygiene, cleaning and sanitation products and household goods.
In an email to PN, a Dow spokesman confirmed that the firm's actions will include its polymer dispersions plant in Ramenskoye and its polyurethane systems plant in Vladimir, a joint venture with Russian petrochemicals firm Izolan. The Ramenskoye plant operates as LLC FINNDISP and sells into applications such as adhesive tape, architectural and industrial coatings, and lubricants in primers and water-based adhesives.
The Vladimir JV plant operates as Dow Izolan and makes PU systems for rigid and semi-rigid PU foams as well as adhesives and elastomers used in construction automotive, furniture, shoe soles and appliances. The company website describes Dow Izolan as "the biggest and the most innovative polyurethane systems manufacturer in Dow Europe."
Dow also has sales offices in Moscow; Kyiv, Ukraine; and Astana, Kazakhstan.
Dow officials also said that the firm is providing evacuation support, financial assistance, shelter and other support to help employees and their families in Ukraine and "is activating similar processes" for its Russian employees.
"We fully support the sanctions implemented against Russia and the efforts of the international community to re-establish peace and safeguard democracy," they added. "Dow is prioritizing the safety and security of its colleagues in Ukraine and Russia."
Dow previously said that the firm and the Dow Co. Foundation are contributing $275,000 to help meet humanitarian needs for the people of Ukraine. Officials said this funding will support the International Red Cross Movement through CAF America, with $25,000 of that amount matching employee contributions.
On a LinkedIn post, Dow Chairman and CEO Jim Fitterling said that "as the Russian invasion of Ukraine unfolds before our eyes, we are putting the safety and needs of our people and partners first, including supporting humanitarian needs to help those who are suffering."
"I am thankful for the resilience and passion of Team Dow to help where needed most," he said. "We stand in solidarity with our team and the people of Ukraine."
Dow employs almost 36,000 worldwide and posted sales of almost $55 billion in 2021. The firm ranks as one of the world's largest producers of polyethylene and other specialty plastics and chemicals.
