PlasticsEdge™ Lead Generation Program: Call 978-342-9000 for details or email [email protected]
Polymer-News-Technology-Today-Celanese-(CE)-Hike-Prices-Ateva-EVA-Polymers-Asia Nasdaq.com — Celanese Corporation CE is set to hike selling prices for Ateva EVA Polymers in Asia by $80 per MT. The company stated that the price hike is effective immediately for orders shipped to Asia or as contracts permit.

Celanese is undertaking price-increase initiatives in the wake of headwinds stemming from raw material cost inflation. The company is facing higher raw material costs across most of its business segments as witnessed in 2018.

Margins in the Acetate Tow segment are affected by higher acetyls raw material costs. The company is also seeing higher costs for acetic acid and methanol in the Acetyl Chain unit. Also, input cost pressure is likely to persist.

Celanese’s shares have lost 5.9% in the past year, against the industry ‘s 2% rise.

The company is exposed to economic weakness across Asia and Europe, which is leading to a slowdown in demand. Notably, Celanese witnessed demand slowdown during fourth-quarter 2018 and the sluggishness is likely to continue through the first half of 2019.

Considering a slower start and expected moderation during the fourth quarter of 2019, the company has issued downbea t earnings guidance for 2019. It expects adjusted earnings per share for 2019 to be roughly $10.50, reflecting a decline from $11.00 in 2018.

Celanese currently carries a Zacks Rank #4 (Sell).

See the ‘Source Link’ for the full article

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

The Revolutionary Past of Plastics

daily.jstor.org — From disposable straws to lifesaving medical...

Essentra Extrusion Sold To Inter Primo In EUR16 Million Deal

LONDON (Alliance News) - Essentra PLC on Tuesday said is has...

A ‘cast PU elastomer’ that can be injection moulded

plasticsnewseurope.com/ — Lanxess AG has developed a low free...

Plastic straws rank low among consumer concerns

PlasticsToday.com — What do you feel guilty about? Since you’re...

Is Milacron Holdings Corp (NYSE:MCRN)’s Fuel Running Low?

Makdaily.com — The stock of Milacron Holdings Corp (NYSE:MCRN)...

Single-ion conducting polymer electrolytes

ScienceDirect.com — Solid single-Li+-ion conducting polymer...

Functional Natural and Synthetic Polymers

Advancedsciencenews.com — Highly specialized polymers with specific...

New Frontiers for Recyclable Polymers

Flinders University — Many modern plastics, rubbers and ceramics...

Krauss-Maffei Corp. president Paul Caprio stepping down

Canplastics.com — Paul Caprio, president of processing machinery...

Prodways Begins Work on Autonomous Dental 3D Printing

France — Since it was acquired by Groupe Gorgé in 2013, Prodways has...