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File photo of Dow Chemical CEO Andrew Liveris.

© Richard Carson / Reuters/REUTERS

Dow Chemical Co. reported a quarterly net loss on Thursday due to large restructuring charges and falling sales of specialty plastics and chlorine.

For the fourth quarter the company posted a net loss of $716-million (U.S.), or 61 cents per share, compared with a net loss of 20 million, or 2 cents per share, in the year-earlier quarter.

Sales fell 1 per cent to $13.92-billion.

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Dow Chemical took a $990-million charge in the fourth quarter, part of a plan announced in October to lay off 5 per cent of its work force, close 20 plants and write down the value of its underperforming lithium ion battery business.

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