Celanese Corporation CE has collaborated with Baumit to provide the latter with binders for sustainable paint and plaster solutions using carbon capture and utilization (CCU) technology. These solutions are aimed at Baumit’s European customer base.
In the manufacturing of these binders, CE’s technology of converting waste emissions into chemical raw materials through its ECO-CC products is utilized to capture CO2 into a chemical building block that is used as a raw material. The CCU process will recycle CO2 into 100% of the binders used for facade plasters and paints, reducing the carbon footprint of Baumit products. CCU and fossil-based feedstocks are tracked through mass balance accounting. This method will help reduce carbon emissions and promote circular solutions.
This collaboration will enhance both of these companies’ commitment to sustainability by reducing the carbon footprint of Baumit’s render and paint products by more than 5,000 tons of CO2 emissions per year. This step is part of Baumit’s GO2morrow sustainability goal. CC technology has created such unique opportunities for a more circular economy.
The CE stock has lost 64.2% in the past year compared with the 22% decline of the industry.
Image Source: Zacks Investment Research
CE’s Zacks Rank and Key Picks
CE currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the Basic Materials space are Ingevity Corporation NGVT, Carpenter Technology Corporation CRS and ArcelorMittal MT. While NGVT sports a Zacks Rank #1 (Strong Buy) at present, CRS and MT carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Ingevity’s current-year earnings is pegged at $4.45 per share. NGVT beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average earnings surprise being 202.9%.
The Zacks Consensus Estimate for Carpenter Technology’s current fiscal-year earnings is pegged at $6.95 per share. CRS beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 15.7%. Its shares have soared 211.7% in the past year.
The Zacks Consensus Estimate for ArcelorMittal’s current-year earnings is pegged at $3.72 per share. MT surpassed the Zacks Consensus Estimate in three of the trailing four quarters but missed it in one, with an average earnings surprise of 4.11%.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
