Markets
KRO

Celanese to Expand Kentucky Plant - Analyst Blog

An image of some people shaking hands
Credit: Shutterstock photo

Celanese Corporation ( CE ) announced that it will expand manufacturing capabilities at its Florence, KY, facility. Its vice president stated that the manufacturing facility at Kentucky is a hub for innovation where R&D along with progression of high performance engineered materials takes place.

The facility also provides technical expertise throughout the product development cycle along with critical design and engineering support. By expanding the manufacturing capacity, Celanese will be able to better serve its customers around the world and improve its operational efficiency.

Celanese will add compounding process lines to support the sustained customer demand for its advanced engineered materials products. The new compounding unit is expected to be operational in the first quarter of 2015.

The addition of these compounding lines the company's strategy to cater to customers around the world where it finds a growth potential, particularly in automotive and transportation, electrical and electronics, consumer goods, and medical and pharma applications.

Celanese posted strong first-quarter 2014 results on Apr 21. It reported adjusted earnings (excluding one-time items) of $1.33 per share, up 16.7% from $1.14 per share reported in the year-ago period. The results topped the Zacks Consensus Estimate of $1.21 per share.

Profit from continued operations (as reported) came in at $1.25 per share in the first quarter, surging roughly 42% from the earlier year figure of 88 cents per share.

Sales in the quarter were $1,705 million, up 6.2% year over year, surpassing the Zacks Consensus Estimate of $1,682 million.

Celanese currently carries a Zacks Rank #3 (Hold).

Other companies in the chemical industry worth considering include Compass Minerals International Inc. ( CMP ), L'Air Liquide SA ( AIQUY ) and Kronos Worldwide, Inc. ( KRO ). While Compass Minerals carries a Zacks Rank #1 (Strong Buy), L'Air Liquide and Kronos retain a Zacks Rank #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

AIR LIQUIDE-ADR (AIQUY): Get Free Report

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

COMPASS MINERLS (CMP): Free Stock Analysis Report

KRONOS WORLDWD (KRO): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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.

In This Story

KRO CE CMP AIQUY

Other Topics

Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More