Dow Chemical posts unexpected loss of US$20 mln on falling plastics sales

Dow Chemical Co. has posted an unexpected fourth-quarter loss after sales at its plastics unit fell, as per Bloomberg. The net loss was US$20 mln vs a net income of US$426 mln a year ago. Chief Executive Officer Andrew Liveris is expanding plastics production and developing genetically modified seeds and herbicides to compete with Monsanto Co.’s Roundup Ready product line. Profit from plastics, Dow’s biggest unit, tumbled 29% as raw-material costs rose and prices for resins such as polyethylene fell on slack demand.
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