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(Dow) -- Q2 profits posted by Dow is lagging behind analysts’ estimates due to
reduced demand for crop-chemicals affected by adverse weather, and unexpected
shutdowns of polymer plants in Texas and Argentina. Net income was US$651 mln
compared with a net loss of US$344 mln a year ago. Dow lost US$300 mln in revenue because of the month
long closure of its polyethylene plant in Argentina and disruption to
operations at the Deer Park and Oyster Creek plants in Texas. The polyethylene plant in Argentina is Dow’s largest in Latin America, Deer Park makes methyl
methacrylate, and Oyster Creeks makes phenol, which is used to make specialty
plastics.
mrcplast.com |
