(CE - Free Report
) will increase the list and off-list selling prices of acetyl intermediate products. The price hike will be effective immediately or as contracts permit.
The company will increase the price of Acetic Acid and Acetic Anhydride by ¥300/MT in China and $50/MT in Asia outside China. In Europe and Middle East, prices of Acetic Acid and Acetic Anhydride will rise by €75/MT and €350/MT, respectively. Price of Acetic Acid and Acetic Anhydride will be hiked by 4 cents per lb and 10 cents per lb in United States and Canada. In Mexico & South America, prices of the same will increase by $100/MT and $250/MT, respectively.
Celanese is taking appropriate pricing actions amid a volatile raw material pricing environment. Pricing improvement drove margins in its Acetyl Chain unit in third-quarter 2017.
Celanese has outperformed the industry
over the last six months. The company’s shares have moved up around 19.8% over this period compared with roughly 14.9% gain recorded by the industry.
The company expects business and productivity momentum to offset fourth-quarter weakness. Celanese is optimistic that it can grow its adjusted earnings per share for 2017 toward the top end of its earlier announced guidance range of 9-11%.
Celanese’s strategic measures including operational cost savings through productivity actions and pricing initiatives are likely to lend support to its earnings in 2017. The company is also poised to gain from growth initiatives that include acquisitions. Moreover, Celanese remains focused on returning value to shareholders.
Celanese Corporation Price and Consensus