) announced that it will expand manufacturing capabilities at its
Florence, KY, facility. Its vice president stated that the
manufacturing facility at Kentucky is a hub for innovation where
R&D along with progression of high performance engineered
materials takes place.
The facility also provides technical expertise throughout the
product development cycle along with critical design and
engineering support. By expanding the manufacturing capacity,
Celanese will be able to better serve its customers around the
world and improve its operational efficiency.
Celanese will add compounding process lines to support the
sustained customer demand for its advanced engineered materials
products. The new compounding unit is expected to be operational in
the first quarter of 2015.
The addition of these compounding lines the company's strategy
to cater to customers around the world where it finds a growth
potential, particularly in automotive and transportation,
electrical and electronics, consumer goods, and medical and pharma
Celanese posted strong first-quarter 2014 results on Apr 21. It
reported adjusted earnings (excluding one-time items) of $1.33 per
share, up 16.7% from $1.14 per share reported in the year-ago
period. The results topped the Zacks Consensus Estimate of $1.21
Profit from continued operations (as reported) came in at $1.25
per share in the first quarter, surging roughly 42% from the
earlier year figure of 88 cents per share.
Sales in the quarter were $1,705 million, up 6.2% year over
year, surpassing the Zacks Consensus Estimate of $1,682
Celanese currently carries a Zacks Rank #3 (Hold).
Other companies in the chemical industry worth considering
Compass Minerals International Inc.
L'Air Liquide SA
Kronos Worldwide, Inc.
). While Compass Minerals carries a Zacks Rank #1 (Strong Buy),
L'Air Liquide and Kronos retain a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
AIR LIQUIDE-ADR (AIQUY): Get Free Report
CELANESE CP-A (CE): Free Stock Analysis Report
COMPASS MINERLS (CMP): Free Stock Analysis
KRONOS WORLDWD (KRO): Free Stock Analysis
To read this article on Zacks.com click here.