Middle East, India boost Dow Chemical

The Dow Chemical Company reported sales of $14.8 billion (Dh54.36bn) for the first quarter of 2008, with particularly strong demand in the India, Middle East and Africa (Imea) region.

Dow's sales rose 26 per cent from the same period last year to $402 million, setting a new regional record. Price was up 11 per cent, while volume increased 15 per cent, the highest gain across all five of its geographic areas.

Commenting on the company's outlook, Dow's chairman and chief executive officer Andrew N Liveris said: "Our outlook continues to reflect a strong international economy and a robust agricultural sector, which should counterbalance a soft United States economy. Our geographic balance provides a hedge against a further US slowdown."

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