Specialty materials company
) announced that it will raise prices for vinyl acetate-based
dispersions sold in Europe, the Middle East and Africa. Celanese
will increase PVAc homopolymer, vinyl acetate ethylene (VAE) and
vinyl copolymer dispersions prices by up to €50 per metric ton.
The revision will be effective Apr 1, 2014, or as contracts
CELANESE CP-A (CE): Free Stock Analysis
DOW CHEMICAL (DOW): Free Stock Analysis
NORTHERN TECH (NTIC): Free Stock Analysis
PPG INDS INC (PPG): Free Stock Analysis
To read this article on Zacks.com click here.
This price revision is in addition to the previous price hike of
up to €25 per metric ton for the same products, declared on Jan
17, 2014, which was effective from Feb 1 or as the contracts
This price rise is also applicable in all the sectors including,
but not limited to, adhesives, paints and coatings, building and
construction, nonwovens, glass fiber, carpet, paper and textiles
where vinyl acetate-based dispersions are used.
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 grow adjusted Earnings before Interest
and taxes (EBIT) by roughly $100 million on the back of its
Celanese currently carries a Zacks Rank #3 (Hold).
Other companies in the chemical industry worth considering
Northern Technologies International Corp.
The Dow Chemical Company
PPG Industries Inc
). While Northern Technologies carries a Zacks Rank #1 (Strong
Buy), both Dow and PPG hold a Zacks Rank #2 (Buy).