Dow Corning Profits Rise 4% on Strong Results at Hemlock

Dow Corning, a 50-50 jv between Dow Chemical and Corning, reported consolidated adjusted net income of $174.2 million for the fourth quarter of 2008, an increase of 4% from the year-ago quarter. The reported adjusted net income excludes a $1.6 million loss from a write down of certain investments; no unusual items were included in 2007 results. Sales were $1.3 billion in the fourth quarter of 2008, up slightly from year-ago revenues of $1.29 billion. “Dow Corning has clearly seen the worldwide economic slowdown in the silicone business,” Corning CFO...

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