(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.
MRCMRC Reference
Share in the Russian market, 2008:
polyethylene - 2.5% (including LLDPE - 33.1%);
polypropylene - 0.8% (including PP-impact - 1.1%);
polystyrene - 2.6%.
Annual sales growth in Russia, recent 5 years:
polyethylene - 55%;
polypropylene - 28%;
polystyrene - 2%.
Imports by processing technologies: