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Celanese Hikes Prices for Acetyl Intermediate Products

Chemical and advanced materials maker, Celanese CorporationCE has announced an increase in list and off-list selling prices for acetyl intermediate products. The prices for Vinyl Acetate Monomer will increase by 3 cents per pound in the U.S, Canada and Mexixo, by $60 per metric ton (MT) in Central and South America, by €50 per MT in Europe and Middle East and by $50 per MT in Asia outside China.

Also, the prices for Ethyl Acetate will be hiked by 5 cents per pound in U.S, Canada and Mexico and by $200 per MT in Central and South America.

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 has raised its adjusted earnings forecast for 2015.

The company is confident about its 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).

Other favorably-ranked companies in the diversified chemical space are Albemarle Corporation ALB , Koppers Holdings Inc. KOP and Innospec Inc. IOSP . All of these hold a Zacks Rank #2.

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ALBEMARLE CORP (ALB): Free Stock Analysis Report

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

KOPPERS HOLDNGS (KOP): Free Stock Analysis Report

INNOSPEC INC (IOSP): 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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