Celanese (CE) Hikes Price of Vinyl Acetate Emulsions in Asia - Analyst Blog

Celanese Corporation ( CE ), a global leader in the chemical and specialty materials space, has decided to hike the prices of all vinyl acetate-based emulsions sold in Asia. Celanese will increase prices of Polyvinyl Acetate (PVAc) homopolymer and Vinyl Acetate Ethylene (VAE) emulsions by 200 yuan per metric ton in China and $30 per metric ton in the rest of Asia. This price rise is effective Aug 18, 2014, or as contracts permit.

This increase comes on top of the previous hike, which was made effective from Jul 18, 2014. The latest hike affects all applications including adhesives, paints and coatings, building and construction, glass fiber, carpet and paper.

Recently, the company also increased 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.

Celanese posted better-than-expected second-quarter 2014 results on Jul 17. The company saw its profits 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% and adjusted earnings (excluding one-time items) of $1.47 per share jumped 31% year over year. 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. The company said that it will focus more on company-specific initiatives for 2015 (including innovation and productivity programs), which will help it to offset expected headwinds associated with the expiry of a methanol contract in mid-2015.

Celanese currently carries a Zacks Rank #2 (Buy).

Better-ranked companies in the chemicals space include Minerals Technologies Inc. ( MTX ), Johnson Matthey plc ( JMPLY ) and LyondellBasell Industries NV ( LYB ). While Minerals Technologies retains a Zacks Rank #1 (Strong Buy), both Johnson Matthey and LyondellBasell hold a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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