MIDLAND, Michigan—Dow Corning posted a drop in sales in the first half of 2015, mainly as a result of a strengthening U.S. dollar.
Sales came in 8 percent lower than the first half of 2014 at $2.79 billion, with the decrease largely driven by the strong U.S. currency, according to the company.
Adjusted net income, however, was $228 million, 9 percent higher than the first half of last year.
According to Dow Corning, the company witnessed a “significant” growth in its silicone segment, despite the currency headwind.
The growth was driven especially by materials sold in electronics, packaging, high performance building and healthcare applications.
The stronger U.S. dollar accounted for a nearly 6-percent revenue decrease in the silicones segment in second quarter.
“Dow Corning continues to advance on our strategy to increase profitability, especially in our silicones segment,” Donald Sheets, executive vice president and chief financial officer, said in a statement. He added that the company was focusing on differentiated and innovative materials in the silicones business.