Chemical and advanced materials maker
) has announced an increase in the prices of GUR and GHR ultra-high
molecular weight polyethylene (UHMW-PE) grades sold in Europe by 20
cents per kilogram. This hike will be effective from Sep 15, 2014,
or as contracts permit.
GUR UHMW-PE is a linear polyethylene offering excellent abrasion
resistance and impact resistance. It is non-sticky and has
self-lubricating properties. It also has mechanical
characteristics, even in cryogenic conditions. It is used for
orthopedic implants, filtration, batteries/lithium, fibers,
additives and membranes.
Celanese posted better-than-expected second-quarter 2014 results on
Jul 17. The company saw its profit jump in the quarter on higher
margins across its Advanced Engineered Materials, Industrial
Specialties and Acetyl Intermediates segments.
Profit from continuing operations (as reported) soared 94% year
over year to $258 million or $1.66 per share in the quarter from
$133 million or 83 cents per share posted in the prior-year
Adjusted earnings (excluding one-time items) of $1.47 per share
jumped 31% from $1.12 per share reported in the year-ago quarter.
It also surpassed the Zacks Consensus Estimate of $1.23.
Based on its strong first-half performance, Celanese now expects
adjusted earnings growth of 15% to 17% for 2014, versus 12% to 14%
expected earlier. It said that it will focus more on
company-specific initiatives for 2015 (including innovation and
productivity programs), which will help it offset expected
headwinds associated with the expiry of a methanol contract in
Celanese currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the chemical space include
Marrone Bio Innovations, Inc.
Cytec Industries Inc.
). While Marrone Bio Innovations sports a Zacks Rank #1 (Strong
Buy), Ashland and Cytec Industries hold a Zacks Rank #2 (Buy).
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