) has raised the price for all grades of CELLOSIZE
Hydroxyethylcellulose (HEC) globally by 6%. The price hike will
be effective Oct 1, 2013, or as per the contracts.
The price hike was declared as a necessary step for Dow to
sustain its commitment to provide high quality products and
reliable supply to its customers.
Dow is the second largest chemical maker in the world by
sales, offering a range of chemical, plastic and agricultural
products and services. The company has a global footprint across
160 countries and has 197 manufacturing sites in 36 nations.
Dow posted mixed second quarter 2013 results on Jul 25. The
company's profit soared to $2.34 billion or $1.87 a share in the
quarter from $649 million or 55 cents a share logged a year ago
on strength in its agriculture business and a sizable gain from
an arbitration case.
Barring loss on early extinguishment of debt and gain from the
arbitration case, Dow earned 64 cents a share in the quarter, up
from 55 cents a year ago. That beat the Zacks Consensus Estimate
of 63 cents.
Revenues of $14,577 million for the reported quarter were
essentially flat year over year as gains across agricultural
sciences and performance materials were offset by declines in
feedstocks and energy and performance plastics. It missed the
Zacks Consensus Estimate of $14,640 million. Gains across
agricultural sciences and performance materials were offset by
declines in feedstocks and energy and performance
Dow is benefiting from strong fundamentals in agriculture and
food markets, and is leveraging its North American feedstock
advantage. A string of innovative products in its pipeline adds
to its strength. However, weakness in the electronics and
construction end-markets may continue. Moreover, Dow still faces
challenges in Western Europe and is exposed to significant
Dow currently holds a Zacks Rank #3 (Hold).
Other chemical companies worth considering are
Eastman Chemical Co.
). While Ferro holds a Zacks Rank #1 (Strong Buy), both
Akzo Nobel and Eastman Chemical retain a Zacks Rank #2 (Buy).
AKZO NOBEL NV (AKZOY): Get Free Report
DOW CHEMICAL (DOW): Free Stock Analysis
EASTMAN CHEM CO (EMN): Free Stock Analysis
FERRO CORP (FOE): Free Stock Analysis Report
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