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(Arabian oil and gas) -- Dow
Chemical Company net profit in 2010 has increased to US$2.32bn, up significantly
from $676m in 2009, the company said in statement. The fourth quarter 2010
surged to $513m (?369m), up from $178m in the same period in 2009.
Though the company posted 34% profits increase, it is lower than Saudi
Arabia Basic Industries Corp (SABIC), which posted a year over year net profits of
$5.75bn, a 138% increased compared to 2009.
Dow attributed this profit increase to the improvement of margins for
plastics, performance products and performance systems.
The company continued to invest for growth in 2010. R&D expenses rose
6% versus pro forma spending in the prior year, reaching nearly $1.7
billion.
mrcplast.com
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