Dow, Huawei sign global technology partnership memo

The China branch of U.S. multinational chemical corporation Dow Chemical signed a global technology partnership memorandum on Tuesday with Huawei, a Chinese information and communications technology solutions provider.

Dow Chemical (China) Investment Company Limited and Huawei will establish a long-term partnership to boost their cooperation on innovation projects using their expertise, according to the memo.

The two sides currently have six joint innovation projects in operation, including the development of new and alternative materials that can be used in telecommunication equipment and consumer electronics.

Dow posted annual sales of about 57 billion U.S. dollars in 2012. With more than 500 researchers, the Shanghai Dow Center is its largest research facility besides its U.S. counterpart.

Huawei posted sales revenues of 35 billion U.S. dollars in 2012. About 45 percent of its 150,000 employees engage in research and development.