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Celanese (CE) to Increase Price of Acetic Anhydride - Analyst Blog

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Celanese Corporation ( CE ), a global leader in the chemical and specialty materials space, has decided to hike the list and off-list selling prices of acetic anhydride in the Americas by $50 per metric ton (MT). The The increase is effective from Jan 1, 2015, or as contracts permit.

Recently, the company had announced plans to hike the prices of all vinyl acetate-based emulsions sold in Asia. Celanese said that it will increase the price of Acetic Anhydride in Europe by €75 per MT. The company also raised the price of Paraformaldehyde in the U.S, Canada and Mexico by 4 cents per pound, and in Central and South America by $90 per MT. The price increases will be effective from Jan 1, 2015, or as contracts permit.

In Oct 2014, Celanese announced a hike in the price of formaldehyde (37% water solution) by $175 per MT. The company also stated that the prices for more concentrated solutions will increase proportionally. These hikes would also be effective from Jan 1, 2015, or as contract allows.

Previously, Celanese had also raised selling prices of chemicals such as ethyl acetate, methyl isobutyl carbinol ("MIBC") and methyl isobutyl ketone ("MIBK") in North, Central and South America.

Celanese posted better-than-expected third quarter results in October. The company saw its profits jump on a reported basis and recorded its highest ever adjusted earnings (excluding one-time items) of $1.61 per share in the quarter, up 34% from $1.20 per share in the year-ago quarter.

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

Other stocks worth considering in the diversified chemical space include Innospec Inc. ( IOSP ), Valhi, Inc. ( VHI ) and Kronos Worldwide, Inc. ( KRO ). While Innospec and Valhi sport a Zacks Rank #1 (Strong Buy), Kronos carries 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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