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Oversupply, pricing pressure continue to haunt Dow Corning earnings
10:32 AM MDT | October 25, 2013 | Rebecca Coons
Dow Corning reports net income of $117 million for the quarter ended 30 September, 22% higher year-over-year (YOY). Excluding certain items, including adjustments for long-term sales agreements and asset impairments, net income plummeted 64%, however, to $28 million. Sales slipped 8%, to $1.43 billion. Dow Corning, a 50-50 joint venture between Dow Chemical and Corning, says pricing pressure continues to limit silicones margins, but the Hemlock Semiconductor polysilicon business “continued to track positively” despite pricing and volume...
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