July 28, 2016 / 10:55 AM / a year ago

Dow Chemical profit nearly triples on Dow Corning gain

1 Min Read

July 28 (Reuters) - Dow Chemical Co's quarterly profit nearly tripled, helped by a gain related to the restructuring of the Dow Corning joint venture.

Dow said in December it would assume full control of Dow Corning, its venture with Gorilla glass maker Corning Inc .

Net income attributable to shareholders rose to $3.12 billion, or $2.61 per share, in the second quarter ended June 30 from $1.14 billion, or 97 cents per share, a year earlier.

However, sales fell 7.4 percent to $11.95 billion.

Reporting by Swetha Gopinath in Bengaluru; Editing by Sriraj Kalluvila

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