Diversified results reflect shaky end to 2012; outlook tepid

Fourth-quarter results at commodity and diversified firms were mixed, as weakness in Europe and China cast a pall over favorable ethylene margins in North America. Company officials issued forecasts that highlight tighter cash management and noted weak economic growth as companies tried to tamp down expectations for early 2013. “The second half of 2012 saw significant deterioration in the markets we serve, particularly in China,” says Dow Chemical chairman and CEO Andrew Liveris. “In response, Dow identified and took aggressive action to...

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