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Dow Chemical profit declines 27%

July 25, 2008

Dow Chemical Co. said yesterday that second-quarter profit fell 27 percent. The company said its net income for the three-months that ended June 30 was $762 million, or 81 cents per share, compared with $1.04 billion, or $1.07 per share, in the corresponding period last year. Revenue rose 23 percent to a company record $16.38 billion. Dow makes everything from the propylene glycols used in antifreeze, coolants, solvents, cosmetics and pharmaceuticals, to acrylic acid-based products used in detergents, water-treatment and disposable diapers.

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