Dow AgroSciences and the Victorian Government announce new research alliance

Dow AgroSciencesFeb 18 2010

A new research alliance between the Victorian Government and Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company (NYSE: DOW), will create 30 new Victorian agricultural biotech jobs, the Premier John Brumby announced this week.

“The Victorian Government’s capabilities at their AgriBiosciences Centre at Bundoora are impressive, and together we can deliver plant-based solutions that contribute to improving the quality of life for the world’s growing population.”

Signing the research agreement with Dow in Melbourne, Brumby said it was a major step forward in expanding the scope and scale of research Dow undertakes in Victoria.

“This alliance further builds on Victoria’s biotechnology reputation and will assist Victorian farmers to meet the growing global demand for food,” Brumby said.

“We first formed an alliance with Dow in Atlanta in May at international biotech conference BIO2009 and at the time it was the largest international agricultural biotechnology alliance ever undertaken by the Victorian Government.

“This agreement will accelerate and expand the alliance and development of improved plant traits, further cementing Victoria’s status as one of the top five biotechnology hubs in the world.

“Agricultural biotechnology offers a tremendous potential to develop new varieties of crops that have drought tolerance, improved yields, disease tolerance and enriched human health benefits to list just some of the potential of this science.

“Through this agreement, Dow will expand their work and therefore our research capability, specifically in the fields of biomass and yield enhancement, agronomic enhancement and modification of food, feed, fibre and oils characteristics in crops.”

This year, The Dow Chemical Company is celebrating its 50^th anniversary of operations in Australia, and employs nearly 300 people with Victorian offices in Altona, Camberwell and Geelong.

Dow Chairman and CEO Andrew Liveris said the company valued the intellectual capital in this country and working with like-minded industry leaders. “It is particularly gratifying for me to help take Australian ideas and technology to the world, being a product of Australia myself,” Liveris said. “Victoria is a global leader in agricultural biotechnology and Dow is pleased with the strong collaborative relationship we have developed across all projects this past year.

“The Victorian Government’s capabilities at their AgriBiosciences Centre at Bundoora are impressive, and together we can deliver plant-based solutions that contribute to improving the quality of life for the world’s growing population.”