Dow Corning says silicones segment strong in H1 2015

Midland, Michigan – Dow Corning has posted a drop in sales in the first half of 2015, mainly as a result of a strengthening US dollar.

Sales came in 8 percent lower than the first half of 2014 at $2.79 billion (€2.5 billion) the decrease is largely driven by the strong US currency, said a 29 July company press release.

According to Dow Corning, the company witnessed a “significant” growth in its silicone segment, despite the currency headwind.

The growth was driven especially by materials sold in electronics, packaging, high-performance building and healthcare applications.

The stronger US dollar accounted for a nearly 6-percent revenue decrease in the silicones segment in second quarter.

“Dow Corning continues to advance on our strategy to increase profitability, especially in our silicones segment,” said executive vice president and CFO, Donald Sheets, in a statement.

He added that the company was focusing on differentiated and innovative materials in the silicones business.

Dow Corning's first half results continued to be impacted by fewer polysilicon shipments to long-term contract customers.