Dow Coating Materials reported sales gains as a result of improving demand conditions and share gains in both Industrial and Architectural Coatings, which drove volume improvements. This offset price declines during the quarter. Lower pricing in epoxy-based products continued to hamper sales and profitability. Dow Building and Construction experienced a reduction in sales, as volumes decreased versus same quarter last year – primarily as a result of the 2012 implementation of previously announced STYROFOAM™ asset closures in Europe. Dow Water and Process Solutions reported a slight sales decline as a result of lower volumes, which were driven by the timing of large capital projects and softness in the industry.The segment reported equity losses of $46 million, or equity earnings of $35 million on an adjusted basis. This compares with $102 million in the same period last year. The decline was driven by Dow Corning, as a result of costs associated with the joint venture’s recently announced restructuring actions and ongoing polysilicon value chain weakness. EBITDA for the segment was $36 million or $129 million on an adjusted basis. This compares with EBITDA of $177 million or $237 million on an adjusted basis in the year-ago period.
Dow Reports Fourth Quarter And Full-Year Results
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