Dow Electronic Materials, a business unit of
The Dow Chemical Company
), unveiled its new polishing pad platform IKONIC. These pads are
the most advanced for chemical mechanical planarization (CMP).
The IKONIC pads are specifically designed to provide the best
performance for the broadest range of CMP applications at or below
the 28 nm technology node. The IKONIC pad platform consists of a
number of products, which provide numerous benefits in copper,
tungsten, Inter-Layer-Dielectric (ILD), Shallow-Trench-Isolation
(STI) and other polishing applications.
The pads improve performance of higher wafer yields and help to
extend the pad lifetime leading to greater tool uptime. They are
instrumental in enhancing planarization efficiency and wafer
topography. These pads also fulfill the removal rate targets for
throughput gains and selectivity requirements to address process
The IKONIC pads platform addresses the ever changing technological
needs and caters to customer requirements for lower defectivity and
improved cost of ownership. The pads are expected to hit the market
in 2013 and are available for sampling presently.
Michigan-based Dow is a leading chemical company whose products are
used across a broad spectrum of industries. The company posted
earnings of 55 cents a share in the second quarter of 2012, missing
the Zacks Consensus Estimate of 64 cents and significantly trailing
the year-ago earnings of 85 cents a share. The decline in profits
was due to weak economic conditions in Europe and soft demand.
Revenues tumbled 10% to $14,513 million, lagging the Zacks
Consensus Estimate of $15,961 million. Sales fell across all
segments except Agricultural Sciences, which recorded double-digit
revenue growth in the quarter. Revenues in Europe slid 10%, largely
due to unfavorable currency movements.
Dow Electronic Materials recorded lower sales in the quarter,
hurt by a weak electronics industry. However, the business saw
volume gains in Semiconductor Technologies.
Dow expects lower-than-expected recovery in the global economy
in the second half of the year. The company plans to beef up cost
reduction and efficiency improvement programs to deal with the
challenging macroeconomic environment.
The company faces stiff competition from
EI DuPont de Nemours & Co.
). Currently, the stock retains a Zacks #3 Rank, which translates
into a short-term (1 to 3 months) Hold rating.
DU PONT (EI) DE (DD): Free Stock Analysis
DOW CHEMICAL (DOW): Free Stock Analysis Report
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