Markets

Celanese (CE) Raises Prices of Acetic Acid in China

Celanese CorporationCE announced that it will raise list and off-list selling prices of acetic acid in China due to the recent market conditions.

The price of acetic acid will be increased by RMB 100 per metric ton in China. This rise will be effective immediately, or as contracts permit.

Texas-based Celanese is one of the world's largest producers of acetyl products, as well as a leading global producer of high-performance engineered polymers. The company is also the world leader in VAM and acetic acid production.

Celanese has been focused on reducing costs and running its plants more efficiently amid an uncertain operating backdrop. Its strong presence in emerging markets should support earnings this year.

Celanese's adjusted earnings for second-quarter 2015 topped the Zacks Consensus Estimate, aided by healthy margins in the Materials Solutions business. Revenues, however, fell by double digits and missed expectations. The company raised its adjusted earnings forecast for 2015.

The company is confident that it can drive performance through the rest of 2015 despite currency headwinds and a challenging macro environment, especially the recent volatility in China. Celanese expects to offset these headwinds with strong operating performance across all its segments and higher productivity gains.

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

Some other favorably ranked stocks in the chemical space include Koppers Holdings Inc. KOP , Air Products & Chemicals Inc. APD and Arkema S.A. ARKAY . While Koppers sports a Zacks Rank #1 (Strong Buy), both Air Products and Arkema carry a Zacks Rank #2.

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AIR PRODS & CHE (APD): Free Stock Analysis Report

CELANESE CP-A (CE): Free Stock Analysis Report

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ARKEMA-ADR (ARKAY): Free Stock Analysis Report

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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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