Dow Chemical reports Q4 2009 profit

Material supplier Dow Chemical Co. reported sales of US$12.5 billion for the fourth quarter of 2009, an increase of 15 per cent compared to reported sales for the same period of 2008.

Sales in the Basic Plastics operating segment, comprised primarily of Dow’s polyethylene business, were US$2.9 billion, an increase of 17 per cent from the same quarter last year, the company said.

“Dow delivered significantly better year-over-year revenue and earnings in the fourth quarter, driven largely by volume gains across virtually all operating segments and improved equity earnings,” said Andrew Liveris, Dow’s chairman and CEO. “Emerging geographies were a major factor in our results for the quarter, with volume up 33 per cent.”

Fourth quarter sales volume in the India, Middle East and Africa regions was up 40 per cent compared to the same period last year, Liveris continued, outperforming sales volume growth across all other geographies.

Despite this good news at the tail end of 2009, the company’s profit declined to US$336 million for the full year compared with US$579 million in 2008.

Dow’s Canadian unit, Calgary-based Dow Chemical Canada, employs approximately 2,000 people and operates eight manufacturing plants from Quebec to British Columbia.