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PRESS RELEASE
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The alliance to create jobs for mid-Michigan while lowering Dow’s long-term costs
Midland, Michigan and Mumbai, India, November 12, 2009: The Dow Chemical Company (Dow) and Tata Consultancy Services (TCS) today announced plans to form an innovative business alliance that will provide critical business services to Dow, its subsidiaries and joint ventures. The alliance is an expansion of an existing relationship between Dow and TCS, combining Dow’s leading chemical industry knowledge and operational discipline with TCS’ service delivery expertise.
“This strategic partnership will make our already lean and efficient corporate center even more so, by supporting a business services model that delivers world-class capabilities at an estimated 30 percent savings,” said Dave Kepler, Dow Executive Vice President of Business Services. “This innovative approach uses a variable staffing model, centralizes activities and maximizes efficiencies to meet evolving business needs.”
As part of this alliance and global network, Dow and TCS are also announcing plans to build a new strategic services center near the site of Dow’s global headquarters in Midland, Michigan, subject to the approval of state and local incentives. Plans are underway to begin construction on a new facility in the next year, with the first phase of the build-out designed to accommodate 1,250 employees. This effort will support the local economy through the creation of new jobs. In addition, TCS plans to expand its service offerings beyond Dow in the future, creating a service valley in central Michigan.
The alliance will provide operational capabilities that are essential to all businesses – including a wide ranging set of capabilities from supply chain scheduling and planning, invoicing and data management to accounts receivable and payables – offering improved flexibility and efficiencies plus around-the-clock, around-the-globe service. The alliance is expected ultimately to support a global network of service centers, including strategic centers in Midland and Mumbai, India, and satellite centers in Shanghai, China; Terneuzen, Netherlands; Sao Paulo, Brazil; and other sites as needed, leveraging the TCS network of locations, including 142 offices in 42 countries.
“The relationship with Dow is extremely strategic for TCS,” said N Chandrasekaran, TCS’ CEO and MD. “Leveraging our pioneering Global Network Delivery Model, TCS will provide business process services with a single quality standard worldwide to Dow, thereby enhancing the customer’s quality of experience. Increasingly, global corporations understand and appreciate the value of using a truly global model for meeting their business needs.”
About Tata Consultancy Services
Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 140, 000 of the world's best-trained IT consultants in 42 countries. The company generated consolidated revenues of US $6 billion for fiscal year ended March 31, 2009 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. More information about Tata Consultancy Services can be found at www.tcs.com.
About Dow
Dow is a diversified chemical company that combines the power of science and technology with the “Human Element” to constantly improve what is essential to human progress. The company delivers a broad range of products and services to customers in approximately 160 countries, connecting chemistry and innovation with the principles of sustainability to help provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. In 2008, Dow had annual sales of $57.5 billion and employed approximately 46,000 people worldwide. The company has 150 manufacturing sites in 35 countries and produces approximately 3,300 products. On April 1, 2009, Dow acquired Rohm and Haas Company, a global specialty materials company with sales of $10 billion in 2008, 98 manufacturing sites in 30 countries and approximately 15,000 employees worldwide. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
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