Dow presents rosy forecast

While poor market conditions are getting many chemical industry managers down, the mood is upbeat at Dow. At a May 16 investor event, executives said the firm should be able to improve pre-tax earnings by more than $3 billion per year by the end of the decade. Many of the gains will come from its large low-carbon petrochemical project in Canada and through plastics recycling initiatives. "It's been 5 years since we spun out of DowDuPont. And I think if I could summarize the last 5 years, I feel like we've created a strong company with excellent operating discipline," CEO Jim Fitterling told reporters before the event. The company reported earnings before taxes of $5.4 billion in 2023. The chemical industry is grappling with overcapacity after a frenzy of new plant construction in the US and Asia met with sluggish demand. Europe, which is among the highest-cost regions in which