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Dow Chemical's profit falls 24 pct

Dow Chemical's quarterly profit fell 24 percent, hurt by a $500 million loss related to abandonment of a plant in Tennessee by a joint venture and other charges.

Net income available for the company's shareholders fell to $734 million, or 63 cents per share, in the fourth quarter ended Dec. 31, from $963 million, or 79 cents per share, a year earlier.

Net sales were almost unchanged at $14.38 billion.

Dow's joint venture, Dow Corning, abandoned a polycrystalline silicon manufacturing plant in Tennessee.