News for Dow Chemical
Feb 10 · 4:48:00 PM · Source: Market Publishers
Dow Chemical said it will permanently shut down its 100-kilotonne-per-year capacity toluene diisocyanate (TDI) production plant in Freeport, TX.
Dow Polyurethanes will work with Dow Texas Operations to minimize the impact of this decision on the workforce, the company said. The plant will close because the company found manufacturing TDI is no longer economically viable, reports plasticnews.com. The major outlet for TDI is flexible foam for furniture and bedding.
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by Michael Oliveto
Nov 4 · 3:50:00 PM · Source: The Michigan Messenger
U.S. Environmental Protection Agency is seeking public review of a proposed agreement with Dow Chemical that establishes a process for evaluating dioxin contamination in Saginaw Bay, the Tittabawassee and Saginaw rivers and their floodplains.
The agreement comes after months of confidential negotiations involving Dow, EPA and the state of Michigan, and represents the first proposed settlement between the Obama administration and the chemical giant responsible for contamination of Michigan’s largest watershed.
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by Michael Oliveto
Oct 27 · 1:59:00 PM · Source: Bloomberg
Dow Chemical lost a request for dismissal of a claim brought against it over an alleged European rubber cartel.
The High Court in London ruled today that Cooper Tire & Rubber Co., the second-largest U.S. tiremaker, and a group of other companies can sue Dow in the U.K. Lawyers for Dow argued at a hearing earlier this month that the court shouldn’t consider the case because the alleged cartel didn’t operate in England.
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by Michael Oliveto
Oct 22 · 12:31:00 PM · Source: Press Release
Dow Chemical reported Q3 earnings per share of $0.63 on net income of $12.05 billion versus $0.46 per share on net income of $15.37 billion in the year ago period.
Andrew N. Liveris, Dow's chairman and chief executive officer, stated:
"Dow once again delivered stronger sequential earnings due to our focus on
aggressive price/volume management, accelerating cost reductions, especially
with the Rohm and Haas integration, plus benefiting from our global presence
with volume gains in emerging geographies. In addition, we are seeing pockets
of volume growth in certain businesses versus the prior quarter, primarily in
Advanced Materials, Performance Products and Performance Systems, which have
benefited from the beginnings of a global economic recovery. Consistent with
our focus on execution, immediately following the close of the quarter we also
accomplished a key objective by completing the sale of Morton Salt and fully
paying off our bridge loan related to the Rohm and Haas acquisition well ahead
of schedule, improving the Company's financial flexibility and further
deleveraging our balance sheet."
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by Michael Oliveto
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