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Basic Chemical Firms Report Mixed Second-Quarter Results

1:03 PM MDT | August 8, 2007 |

Nancy Seewald with Michelle Bryner

Basic and diversified chemical companies posted mixed second-quarter results. Celanese and Huntsman each reported net losses due to one-time charges, although sales were up at both companies. Other firms say they benefited from stronger sales in Asia and Europe, which offset continuing slowness in the U.S. housing and automotive markets. Dow Chemical posted net income up 2%, to $1.04 billion ($1.07/share), over the year-ago period (table). Dow says that “aggressive price-volume management” played a key role in offsetting surging feedstock and energy...

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