The Dow Chemical Co. recently reported sales of $14.4 billion in the first quarter of 2013, down 2% vs. the same period last year. Volume declined 3% or was flat, excluding Feedstocks and Energy. Volume rose in emerging geographies (up 2%), with increases led by Latin America (up 6%). Volume remained flat in North America and declined in Western Europe (down 12%).
Sales in Electronic and Functional Materials were $1.1 billion, an increase of 2% from the same quarter last year, as volume growth of 3% was slightly offset by a 1% decline in price. Revenue declined slightly in Dow Electronic Materials, as volume increases were offset by price declines due in part to currency. Semiconductor Technologies showed volume growth due to strength in memory manufacturing.