Midland, Michigan -- Dow’s Performance Materials & Chemicals segment – within which its polyurethanes business is located - reported Q3, 2015 sales of $3.1bn ($2.7bn), down from $3.9bn in Q3 2014.
Strong sales volume in Asia Pacific was more than offset by global pricing pressures in nearly all businesses and ongoing currency headwinds in EMEAI, according to the report.
Polyurethanes reported volume growth on the startup of Rayong, the firm’s new polyols plant in Thailand. Howard Ungerleider, Dow cfo, said: “Polyurethanes once again continued to deliver strong volume growth, with share gains due to broader market participation, expanding system house sales and underlying fundamental demand growth in EMEAI and Asia Pacific.”
The Rayong plant was a driver for market share gain in Asia, Ungerleider said, emphasising “flat slab and coatings, adhesives, sealants and elastomers (CASE) markets.”
Andrew Liveris, Dow’s chairman and ceo, said: “Our investment in innovative products and technologies is driving margin expansion in challenging economic environments.”
In the company’s Building & Construction segment it reported a record quarterly operating EBITDA, which it said was in part due to the success of its Great Stuff product, a polyurethane spray foam insulating sealant for the home.
UTECH-polyurethane.com interviewed Dow's Chris Chrisafides on the sidelines of the CPI meeting in early October, 2015.
XE Currency conversion: 23 October, 2015