Dow Corning reports sales, profits for Q4 and 2009 year-end

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

Dow Corning has reported consolidated net income of US$270.5 million for the fourth quarter of 2009, an increase of 57% from net income of $172.6 million reported in the fourth quarter of 2008.  

For the whole of 2009, net income was US$579.6 million, a decline of 22% from net income of US$738.7 million reported in 2008.  The company reported an adjusted consolidated net income of US$211.3 million for the fourth quarter and US$578.0 million for all of 2009.  

The 2009 adjusted net income excluded restructuring charges and the tax benefit associated with foreign dividends. In 2008 consolidated adjusted net income was US$174.2 million for the fourth quarter and US$775.7 million for the year. The 2008 results were adjusted for a loss from a write down of certain investments.

Sales were US$1.47 billion in the fourth quarter of 2009, 13% higher than sales of US$1.30 billion in the same quarter of 2008. Sales for all of 2009 were US$5.09 billion, 7% lower than sales of US$5.45 billion reported in 2008.

Dow Corning also made an acquisition in Q4 having acquired two chemical grade silicon manufacturing assets from Globe Specialty Metals for approximately US$175 million.

Dow Corning’s executive vice president and chief financial officer J. Donald Sheets said, “Dow Corning saw a significant recovery in its silicones business in the second half of the year, as our two-brand strategy allowed us to get the right products and solutions into the hands of our customers.”

“Our polycrystalline silicon business through Hemlock Semiconductor Group had another solid year, operating at expected manufacturing  rates while supplying all contracted volumes to both solar and semiconductor customers.”

“While it’s still a volatile economic environment, the year ended with many positive signs.  Dow Corning’s fourth quarter sales performance is another significant step in the global recovery of our business.”

“2010 will be another active year for Dow Corning as major capital expansions in China will be completed and Hemlock Semiconductor Group’s expansions in the United States will continue to bring new capacity online.  We’ll also focus on expanding our markets by investing in our diverse innovation portfolio and by continuing to expand our geographic footprint.”

21 September 2021
C&I consumers currently source only about 7% of their power requirement directly from renewables. Indian corporate renewable market has grown rapidly and holds huge growth potential as companies look to reduce power purchase costs and cut carbon emissions. BRIDGE TO INDIA has built significant expertise in the corporate renewable business by working on over 30 consulting assignments and various research reports. We are organizing this conference to bring all stakeholders together and delve deeper into various market aspects. The conference will be held on a virtual platform with excellent networking opportunities for all participants.
22 September 2021
To commemorate the World Energy Storage Day(WESD) on 22 September, being recognized worldwide, Customized Energy Solutions (CES) and India Energy Storage Alliance (IESA) is organising the 5th global conference and virtual expo, which will be held virtually on 22 September 2021. WESD is a global movement initiated by various apex trade bodies working to promote and adopt energy storage, e-mobility & green hydrogen technologies for a sustainable future. The forthcoming edition of WESD is expected to attract global participation with an intent to facilitate bi-lateral trade, market development and new research and innovation, which will invite 100+ countries, 100+ regulators & policy makers, 100+ International speakers,1000+ organisations, 100+ partners & exhibitors and 20,000+ global delegates.
28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.

Read Next

September 20, 2021
A subsidiary of Indian utility Tata Power has received a letter of intent to set up a 250MW grid-connected solar project in the state of Maharashtra.
September 20, 2021
Vattenfall has increased its emissions reduction targets to be in line with the 1.5 degrees Celsius scenario set out in the Paris Climate Agreement in a move that has been approved by the Science Based Targets initiative (SBTi) and which involves increasing its renewable capacity four-fold.
September 20, 2021
Lightsource BP has increased its solar deployment target to 25GW by 2025 after securing a US$1.8 billion financing facility that will help fund its global expansion.
September 20, 2021
Australian companies plan to spend AUS$5.1 billion (US$3.7 billion) on offshore gas exploration over the next six years, which is enough to develop 2.5GW of renewables capacity and generate close to 5,000 jobs
September 20, 2021
Mining company Rio Tinto has revealed plans for a new solar project and battery energy storage system that will help to decarbonise an off-grid mine in the Australian state of Queensland.
September 20, 2021
The US solar policy landscape is shifting at breakneck speed, with new incentives and trade tariffs promising to alter the shape of the industry for the coming decade. Luckily Andy Colthorpe and Liam Stoker are here to decipher the changes in the September 2021 episode of the Solar Media Podcast.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
Solar Media Events
December 1, 2021