Dow Chemical Co'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. (Reporting By Swetha Gopinath and Kanika Sikka in Bengaluru; Editing by Sriraj Kalluvila)

Originally Published: Reuters