IHS Chemical Week

Dow Corning income falls 12%

12:27 PM MDT | May 1, 2013

Dow Corning, a 50-50 joint venture between Dow Chemical and Corning and the majority shareholder in leading polysilicon producer Hemlock Semiconductor, says sales and earnings fell in the first quarter because of continued oversupply and price pressure. The company reported net income of $62 million for its fiscal quarter ended 31 March, down 12% from the year-ago quarter. Adjusted net income decreased 6%, to $66.4 million. Sales fell 17%, to $1.26 billion. Sales were down in both the silicones and polysilicon segments, with the polysilicon segment realizing the...

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