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Dow’s 1Q net income increases fivefold; TX-9 cracker’s commissioning is 50% complete

HOUSTON, April 27, 2017 (PCW) – Dow on Thursday reported first-quarter net income of $888 million, up about fivefold from the $169 million seen in 1Q 2016, due to increased sales in nearly all its business segments.

The company also affirmed that it is on track to start up its new 3.3 billion lbs/yr TX-9 cracker in Freeport by mid-year. Executives said the plant is 50% complete with the commissioning phase with commercial ethylene production expected by mid-year.

Dow’s Performance Materials & Chemicals reported 1Q sales of $2.4 billion, up from $2.2 billion in the year-ago period, while the Performance Plastics group saw 1Q  sales of $5 billion, up from $4.2 billion in 1Q 2016. -- Samantha Hartke

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