Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Rubber Division IEC
    • War in Ukraine
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • Airless Tires
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • Ask the Expert
    • Healthcare Elastomers Conference
    • Rubber In Automotive Conference
    • Women Breaking the Mold Networking Forum
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
January 03, 2014 01:00 AM

Dow Chemical sales increase slightly in third quarter

European Rubber Journal Report
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    MIDLAND, Mich.—Dow Chemical Co. reported a slight sales increase of 1 to 2 percent to $13.7 billion during the third quarter of 2013 compared to the same period last year.

    The figure was down on that for the second quarter of 2013, when the company reported sales of $14.6 billion. William Weideman, executive vice president, investors officer and CFO, said that while the business had driven "aggressive price actions, their full benefit … was offset by higher and volatile raw materials costs."

    He said emerging geographies—Latin America, China, India, Russia—"where both price and volume increases drove revenue gains of 5 percent," boosted the company's bottom line. In Latin America, volume increased by 5 percent while the increase was 3 percent in Asia Pacific, he said.

    Year-on-year sales in the coatings and infrastructure solutions segment were up 6 percent and EBITDA and EBITDA margins increased 15 percent.

    In the Dow coating materials segment, architectural coatings saw strong sales during the latest quarter, Weideman added.

    Performance materials sales dropped a 3 percent compared the third quarter of 2012 and, while automotive sales did see a volume gain, it was not enough to offset declines elsewhere in the business.

    Weideman said he expected the fourth quarter would yield its usual seasonal slowdown.

    Outlining the company's stance on polyurethanes, Andrew Liveris, president, chairman and CEO, said the company's cost-cutting strategy, including several closures in the past year, would yield an additional $100 million to the bottom line.

    Glenn Wright, Dow's business president, polyurethanes, systems said the company expects the automotive industry to continue to strengthen into 2014, with the trend toward light vehicles as "part of an energy efficiency strategy presenting more opportunities for polyurethanes technologies to replace incumbent materials."

    "The positives for the year were that we continued to see polyurethanes as a key enabling technology that grows at greater than GDP and is used in a wide variety of end-markets from consumer comfort, energy efficiency and industrial end-use applications," he said.

    He said energy efficiency would continue to drive opportunities for rigid polyurethane foams across many markets next year as the rebound in construction markets gains traction. He said the industry could also expect continued growth in the coatings and adhesives arenas.

    Related Articles
    Hedge fund urges Dow to spin off business
    Kansas City court denies Dow's motion to dismiss price-fixing case
    Dow to re-examine breakup plan
    Dow's Bassett urges collaboration in industry
    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Is worst of new-vehicle inventory shortage in rearview mirror?
    2
    Boiler malfunction idles Zeon operations in Japan, restart date set
    3
    Michelin's hydrogen partners: 4 things to know about Symbio's stakeholders
    4
    Technical Notebook: Effects of polymer type and Prophene on vibration isolator performance
    5
    Goodyear to trim jobs to address 'uncertain' economic outlook
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Rubber Division IEC
      • War in Ukraine
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • Airless Tires
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • Healthcare Elastomers Conference
        • Rubber In Automotive Conference
        • Women Breaking the Mold Networking Forum
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
      • Ask the Expert
    • Advertise
    • DIGITAL EDITION