Dow Chemical EBITDA up 9% in Q2
U.S. chemical giant Dow Chemical saw adjusted EBITDA gain nearly 9% year-on-year to $ 2.1 billion in Q2 2013, thanks mainly to strong business in the Agricultural Science and Performance Plastics segments. The unusually large adjustment reflects a payment of $2.2 from Petrochemical Industries Company of Kuwait in arbitration over the K-Dow joint venture canceled by Kuwait in 2009. Quarterly sales were flat at $14.6 billion. Led by activities in emerging markets that more than offset a decline in Europe, volume growth averaged 9%, said CEO Andrew Liveris. Prices receded by 2%, due in part to currency translations.