) declared that it will raise the price of Ateva ethylene vinyl
acetate (EVA) by 6 cents per pound due to the worldwide
unavailability of Vinyl Acetate Monomer. The price hike is
effective Apr 1, 2014, or per contracts. This follows a hike of 4
cents per pound for the same product on Jan 9.
Earlier, Celanese also increased prices of vinyl acetate-based
emulsions sold in the Americas on Mar 7. Celanese will increase
PVAc homopolymer, vinyl acetate ethylene (VAE) and vinyl
copolymer emulsions prices by upto 3 cents per wet pound. The
revision will be effective Apr 1, 2014, or as contracts permit.
Celanese Ateva EVA polymers produce a full line of high geared
EVA copolymers. These copolymers have varied applications in
flexible packaging, thermal-lamination film, hot-melt adhesive,
concentrates and photovoltaic cells, to name some.
Celanese posted its fourth-quarter 2013 results on Jan 23. The
company's earnings (excluding one-time items) of $1.04 per share
beat the Zacks Consensus Estimate of $1.01.
Earnings (as reported) from continuing operations came in at
$4.16 per share in the quarter, as against a loss of $1.05
recorded a year ago.
Sales in the quarter were $1,616 million, up 7.7% year over year,
surpassing the Zacks Consensus Estimate of $1,560 million.
For 2014, Celanese expects earnings growth on the back of
company-specific initiatives to be consistent with its long-term
growth plan. The company-specific initiatives including
innovation of new products and enhancement of efficiencies
through productivity are expected to drive earnings growth in
2014. Celanese expects to increase adjusted earnings before
interest and taxes (EBIT) by roughly $100 million on the back of
its strategic actions.
Celanese currently carries a Zacks Rank #3 (Hold).
Other companies in the chemical industry worth considering
PPG Industries Inc.
Cytec Industries Inc.
The Dow Chemical Company
), all of which hold a Zacks Rank #2 (Buy).
CELANESE CP-A (CE): Free Stock Analysis
CYTEC INDS INC (CYT): Free Stock Analysis
DOW CHEMICAL (DOW): Free Stock Analysis
PPG INDS INC (PPG): Free Stock Analysis
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