Midland, Mich. - Dow Corning Corp. today appear circumscribed adapted net assets of $184.5 actor for the third division of 2009, a abatement of 27 percent from adapted net assets of $253.4 actor appear in the third division of 2008. For the aboriginal three abode of 2009, adapted net assets was $366.7 million, a abatement of 39 percent from adapted net assets of $601.5 actor appear in the aboriginal three abode of endure year. The 2009 adapted net assets afar restructuring charges. The 2008 after-effects were adapted for a accident from a address down of assertive investments in the third quarter. Including all items,
Dow Corning appear circumscribed net assets of $184.3 actor for the third division and $309.1 actor for the aboriginal three abode of 2009. In 2008, circumscribed net assets was $218.0 actor for the third division and $566.1 actor for the aboriginal three quarters.
Dow Corning’s sales were $1.41 billion in the third division of 2009, 5 percent lower than sales of $1.49 billion in the aforementioned division of 2008. Sales in the aboriginal three abode of 2009 were $3.62 billion, 13 percent lower than sales of $4.15 billion appear in the aboriginal three abode of 2008.
“While we’re still activity the appulse of the all-around bread-and-butter recession, we were encouraged by a about 20 percent access in third division sales compared to the additional quarter,” said Dow Corning’s Executive Vice President and Chief Financial Officer J. Donald Sheets. “This was abnormally axiomatic in our silicones segment, area Dow Corning’s two-brand action delivered solid results. Sales added in both specialized silicone abstracts marketed through the Dow Corning casting and in accepted silicone articles marketed through the XIAMETER® brand.
“Dow Corning’s polysilicon collective venture, the Hemlock Semiconductor Group, continues to column able results, while the appear expansions beneath way are advanced as scheduled,” said Sheets.
About Dow Corning
Dow Corning (www.dowcorning.com) provides performance-enhancing solutions to serve the assorted needs of added than 25,000 barter worldwide. A all-around baton in silicones, silicon-based technology and innovation, Dow Corning offers added than 7,000 articles and casework via the company’s Dow Corning® and XIAMETER® brands. Dow Corning is a collective adventure appropriately endemic by The Dow Chemical Company and Corning, Incorporated. More than bisected of Dow Corning’s anniversary sales are alfresco the United States.
About Hemlock Semiconductor Group
The Hemlock Semiconductor Group (Hemlock Semiconductor) is comprised of two collective ventures: Hemlock Semiconductor Corporation and Hemlock Semiconductor, L.L.C. The companies are collective ventures a allotment of Dow Corning Corporation, Shin-Etsu Handotai, and Mitsubishi Materials Corporation. Hemlock Semiconductor is a arch provider of polycrystalline silicon and added silicon-based articles acclimated in the accomplishment of semiconductor devices, and solar beef and modules. Hemlock Semiconductor began its Michigan operations in 1961 and bankrupt arena at its Tennessee area in 2009.
Dow Corning
Parc Industriel de Seneffe 1
7180 Seneffe, Belgium
Contact: Karen Heenan-Davies
+44 1446 723498
karen.heenan_davies@dowcorning.com
