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February 09, 2015 01:00 AM

Dow Corning reports strong 2014 results

European Rubber Journal Report
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    MIDLAND, Michigan—Dow Corning Corp. reported a 5 percent increase in sales in its fourth quarter results compared to the fourth quarter of 2013.

    The silicone supplier said that its sales rose by 9 percent while its net income increased by 36 percent throughout 2014, however it experienced a 66 percent drop in net income to $37 million on the quarter.

    The firm said its adjusted net income for 2014 was $522 million, an increase of 72 percent compared to 2013.

    Dow Corning said silicone segment sales continued to grow across a variety of markets—including transportation, construction, electronics, packaging and health care— in the Americas, Europe and China.

    “In 2014 Dow Corning demonstrated why we lead the silicon-materials industry, as we returned to a trajectory of sales and profit growth despite operating in an oversupplied industry and a significantly volatile marketplace,” said J. Donald Sheets, Dow Corning's executive vice president and chief financial officer, in a statement.

    Established in 1943, Dow Corning is a joint venture between Dow Chemical Co. and Corning Inc. that produces silicones used in sealants, cosmetics and rubber goods.

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