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June 2015

Irina Mirochnik, Chairman of the Board of PC UKRPLASTIC and Grant Fisher, regional director of special plastic packaging and the European branch of the world's largest chemical company Dow Chemical, have signed a Memorandum of Intent to strengthen their long-term partnership.

The implementation of the agreement will enable companies to significantly increase the supply of products to ensure the stable development of the latest technologies and to increase market share in the segment of flexible packaging materials.

The parties held a meeting at which they discussed the state and perspectives of cooperation. According with Grant Fisher, the global plastic packaging market is growing faster than GDP, by about 4% a year, so the company is increasing production investing in new high-tech production facilities. "We are at the final stage of construction of JV Sadara, which will be the world's largest integrated chemical enterprise constructed in one phase. That advanced complex ensures efficient delivery of substantial quantities of products to our customers. UKRPLASTIC is one of our key partners in Eastern Europe, and we are looking forward to good results," said Grant Fisher.

While discussing the prospects of expanding the company's share in the European market, Irina Mirochnik praised her company’s partnership with Dow Chemical, and highlighted that their relationship has positively affected the strategic growth of domestic business in the European market and the economic development of the entire region. "We are bound not only to a mutually beneficial business relationship, but we also share the principles of social responsibility, values and a common vision for tomorrow. We are interested in deepening our partnership with Dow Chemical and we plan to carry out a number of interesting joint projects," summarized Irina Mirochnik.

Both parties emphasized that the implementation of the basic provisions of the Memorandum are to get started shortly and the initial results will be announced at the end of this year.