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Celanese to Raise Prices of Ateva EVA & VAE Emulsion Polymers
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Celanese Corporation (CE - Free Report) will raise list and off-list selling prices for Ateva EVA polymers and Vinyl Acetate Ethylene (VAE) emulsion polymers. The price hike will be put into effect for orders shipped on or after Nov 1 and Nov 5, 2018, respectively, or as contracts permit.
In Asia as well as Mexico and South America, the company will raise the price of Ateva EVA by $110/MT. It will also hike prices by 5 cents per lb in USA and Canada. Moreover, the prices of VAE will be increased by 4 cents per lb in USA and Canada, and by $90/MT in South America.
Celanese, which is among the prominent names in the chemicals space along with Eastman Chemical Company (EMN - Free Report) , Air Products and Chemicals, Inc. (APD - Free Report) and PPG Industries, Inc. (PPG - Free Report) , is taking appropriate pricing actions amid a volatile pricing environment for raw materials. The company’s strategic measures, including operational cost savings through productivity actions and pricing initiatives, are likely to boost earnings in 2018.
In July, Celanese raised its adjusted earnings per share guidance for 2018 to roughly $10.50-$10.75 on strength across Engineered Materials (EM) and Acetyl Chain units. Sales from the EM unit increased year over year in the second quarter of 2018 aided by growth in Asia and Americas’ product mix, recent acquisitions and project commercializations.
However, Celanese witnessed lower volume and pricing at its Acetate Tow segment in the second quarter. Subdued utilization rates across the tow industry are affecting prices of acetate tow. The company expects earnings at the Acetate Tow segment to remain relatively flat year over year in 2018.
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Celanese to Raise Prices of Ateva EVA & VAE Emulsion Polymers
Celanese Corporation (CE - Free Report) will raise list and off-list selling prices for Ateva EVA polymers and Vinyl Acetate Ethylene (VAE) emulsion polymers. The price hike will be put into effect for orders shipped on or after Nov 1 and Nov 5, 2018, respectively, or as contracts permit.
In Asia as well as Mexico and South America, the company will raise the price of Ateva EVA by $110/MT. It will also hike prices by 5 cents per lb in USA and Canada. Moreover, the prices of VAE will be increased by 4 cents per lb in USA and Canada, and by $90/MT in South America.
Celanese, which is among the prominent names in the chemicals space along with Eastman Chemical Company (EMN - Free Report) , Air Products and Chemicals, Inc. (APD - Free Report) and PPG Industries, Inc. (PPG - Free Report) , is taking appropriate pricing actions amid a volatile pricing environment for raw materials. The company’s strategic measures, including operational cost savings through productivity actions and pricing initiatives, are likely to boost earnings in 2018.
In July, Celanese raised its adjusted earnings per share guidance for 2018 to roughly $10.50-$10.75 on strength across Engineered Materials (EM) and Acetyl Chain units. Sales from the EM unit increased year over year in the second quarter of 2018 aided by growth in Asia and Americas’ product mix, recent acquisitions and project commercializations.
However, Celanese witnessed lower volume and pricing at its Acetate Tow segment in the second quarter. Subdued utilization rates across the tow industry are affecting prices of acetate tow. The company expects earnings at the Acetate Tow segment to remain relatively flat year over year in 2018.
Celanese Corporation Price and Consensus
Celanese Corporation Price and Consensus | Celanese Corporation Quote
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