Revenues for Dow Corning fell 17% to $1.26bn, while net income (excluding restructuring costs) fell 6% to $62.1m – reductions which the chemicals company pins on a “challenged” Hemlock.
Michigan-based Hemlock, one of the world’s largest suppliers of PV-grade polysilicon, is jointly owned by Dow Corning, Shin-Etsu Handotai and Mitsubishi Materials Corporation.
Sales were also down within Dow Corning’s silicones unit, but polysilicon took the biggest hit.
“Hemlock
