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Dow’s 1Q earnings take hit on polyurethanes lawsuit settlement

HOUSTON, April 28, 2016 (PCW) -– Dow Chemical on Thursday reported first-quarter net income of $169 million, compared to the nearly $1.4 billion seen in 1Q 2015. The decline was due to legal settlements over “urethane matters” and “a charge for costs associated with portfolio and productivity actions,” the company said.

In late February, Dow settled a class action suit for $835 million that alleged the company was involved in fixing polyurethane prices.

Earnings for Dow’s various segments are as follows:

--Samantha Hartke

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