Revenues Surge Across the Board in The Major Chemicals Industry
November 01 2010 - 8:46AM
Marketwired
The business environment for the Major Diversified Chemicals
Industry has been improving in recent months. Recent earnings for
many of the industry heavyweights were helped by a recovery in
demand from a weak level last year and cost reductions implemented
since late 2008. Positive trends concerning volume and pricing has
helped to push revenue in the industry much higher than
anticipated. In the meantime, growing sales in Asian markets,
including large chemical orders by China and the Korean demand for
chemicals related to the production of various OLED display
technologies have further strengthened the diversified chemical
industry's health. The Bedford Report examines the outlook for
companies in the Major Diversified Chemicals Industry and provides
research reports on Dow Chemical Company (NYSE: DOW) and Huntsman
Corporation (NYSE: HUN). Access to the full company reports can be
found at:
www.bedfordreport.com/2010-10-DOW
www.bedfordreport.com/2010-10-HUN
On Thursday Dow Chemical posted third quarter earnings of $512
million, or 45 cents per share. Revenues were way up year-on-year
as the company reported strong sales of chlorine and plastics. Two
of Dow's more specialized segments had impressive third quarters.
The company's performance products -- which includes businesses
bought from the speciality materials maker Rohm and Haas -- was the
best performing segment in terms of sales, with $2.6 billion,
meanwhile the performance systems segment ranked third with $1.6
billion.
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Dow's Chairman and CEO Andrew Liveris said "Volume increased
double digits and was up across every single one of our segments
and in every geography." Liveris added that he was bullish on
emerging markets such as Brazil, Eastern Europe and the Middle
East, while demand in North America and Europe is strong for
lubricants and other heat transfer fluids used in solar power
applications.
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