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May 08, 2015 02:00 AM

Dow Corning reports decline in financials

Rubber & Plastics News Report
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    MIDLAND, Mich.—Dow Corning Corp. reported an 11 percent decrease in sales and an 8 percent decrease in net income for first quarter of 2015, the firm said on April 29.

    Sales came in at $1.36 billion with net income reported at $101 million compared to sales of $1.52 billion and net income of $191 million in first quarter 2014.

    “Dow Corning's first quarter results decrease due to fewer polysilicon shipments to long-term contract customers,” Chief Financial Officer J. Donald Sheets said in a statement.

    Dow Corning is a joint venture between Dow Chemical Co. and Corning Inc. that provides silicon-based technology worldwide.

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