PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Paint and Coatings Industry News

Main News Page


Dow Sees Increase Over Q2

Monday, October 26, 2009

Comment | More

The Dow Chemical Company (Midland, MI), which makes products for the coatings and other markets, reported third quarter sales of $12 billion, down 22% from Q3 2008, but up 6% from Q2 2009. Net income from continuing operations for the quarter was $799 million, compared with $440 million for the same quarter in 2008.

According to the company, structural cost reductions are ahead of company goals, with cost savings of more than $380 million in Q3 and more than $1 billion for the year. The company has achieved more than 110% of the 12-month cost synergy run-rate goal for the integration of Rohm and Haas, which began six months ago.

Sales in coatings and infrastructure were $1.3 billion for the third quarter, down 22% from Q3 2008, but up 7% from Q2 2009. Volume increases were reported in Asia Pacific, with China architectural coatings reporting robust growth compared to last year. All other geographic areas posted double-digit volume declines, except IMEA where volume was flat. The company says that there was unfavorable demand for insulation products and construction chemicals in Dow Building and Construction and architectural paints and industrial coatings in Dow Coating Materials. Demand for architectural coatings in Asia Pacific has stabilized due to government stimulus spending in China. Adhesives and functional polymers reported double-digit volume gains in Asia Pacific.

In the performance products segment, sales were $2.4 billion, down 33% from the third quarter of 2008, but up 16% compared to Q2 2009. The largest volume declines were in North America and Europe. Polyurethanes sales were down, but volume was flat compared to the same period last year. Epoxy sales fell, and in performance fluids, polyglycols and surfactants, sales were lower than last year because of a contraction in industrial lubricant demand and a weakness in construction-related applications, such as foam-control aides in cement and paint.

The performance systems segment saw sales of $1.5 billion, down 29% compared to Q3 2008, but up 5% from the previous quarter. Formulated systems posted volume declines in all areas except Latin America and Asia Pacific, where government spending programs in China stimulated demand in infrastructure rehabilitation applications. Epoxy systems also reported strong demand for wind energy applications in China. Compared to the previous quarter, polyurethane systems reported a double-digit demand improvement in Russia.

The basic plastics segment was down 32% from last year’s third quarter, with sales of $2.6 billion, but sales rose 11% from Q2 2009. In basic chemicals, sales were $568 million, down 49% from last year, and down 3% from the previous quarter. The electronic and specialty materials segment had sales of $1.3 billion, down 15% from Q3 2008, but up 8% from Q2 2009. The health and agricultural sciences segment reported sales of $796 million, down 20% from last year and down 34% from Q2 2009, reflecting typical season decline.

   

Tagged categories: Dow Chemical Company; Earnings reports; Finance; Rohm and Haas

Comment Join the Conversation:

Sign in to our community to add your comments.

Graco Inc.
Eco-friendly surface prep blasting equipment

EcoQuip blast equipment adds a fine water mist during the spraying process for less dust. Less media consumption. Less cleanup. Easy to use. Call 877.326.7847


CHLOR*RID International Inc.
Free Webinar

Learn about soluble salts, along with a discussion on allowable levels.
More information at
www.chlor-rid.com,

800-422-3217


Harsco
Find BLACK BEAUTY® Abrasives

Use our online tool to search by address, city or zip code to find where you can buy BLACK BEAUTY® abrasives. Or call us toll free: 1-888-733-3646


KTA-Tator, Inc. - Corporate Office
KTA-Tator EH&S Services

• Ambient & Worker Exposure Air Monitoring
• Safety & Health Program Development
• Lead Paint Assessments
& Specifications
• Health Hazard & Jobsite Safety Assessments
Call 1-800-245-6379


Dampney Co., Inc.
Rubber In a can!

Rubberized Spray in a
Handy Aerosol Can

• Stays flexible
• Seals off moisture penetration
• Non sagging formulation
• Will not crack, chip or peel
• Apply to wet and dry surfaces
• Paintable


Atlantic Design, Inc.
OUR INDUSTRY IS CHANGING!

We should know. We’re the ones leading the way. Cleverly simple. Clearly ADI. 866.Call.ADI


U.S. Zinc

The proven corrosion protection properties of our zinc dust prolong the life of marine coatings. U.S. Zinc – Helping the world work™

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com