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Dow Corning posts higher profits and sales

2:05 PM MDT | April 29, 2014 | Rebecca Coons

Dow Corning’s first-quarter results improved markedly as stronger silicones volumes and long-term polysilicon contracts helped the Dow Chemical–Corning joint venture overcome continued oversupply and volatility. The company reports net income of $191 million, more triple year-on-year (YOY). Excluding gains from derivative contracts and long-term sales agreements in the 2014 quarter and restructuring expenses in the 2013 quarter, net income increased 65% YOY, to $109 million. Sales increased 21% YOY, to $1.52 billion. "Dow Corning's strategy and...

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