Celanese Corporation (CE) announced that it will feature its automotive composite solutions at the Society of Plastics Engineers Automotive Composites Conference & Exhibition (SPE ACCE) from Sep 9-11 in Novi, MI. The company will make presentations featuring advances in thermoplastics and composites, while enabling technologies for compression molding.
Celanese will emphasize on thermoplastic solutions for continuous-fiber composites used in light and tough components that can reduce weight, bring down costs and execute in extreme environments. Automakers, under the current circumstances are bound to reduce weight and emissions, along with increasing fuel efficiency. Celanese, with its experience and expertise in engineered materials, enables manufacturers to optimize next generation vehicles and improve performance in order to meet the customer demands.
Celanese posted forecast-topping results for second-quarter 2014 on Jul 17. Both revenues and adjusted earnings for the quarter topped the Zacks Consensus Estimates. Profit jumped year over year on higher margins across most businesses.
The company raised its earnings growth forecast for 2014 to 15% to 17% from 12% to 14% expected earlier. Earnings are expected to be driven by company-specific initiatives including innovation of new products and enhancement of efficiencies through productivity.
Celanese has taken up cost-cutting measures and the necessary steps to run its plants better and counter weak demand. It is aggressively expanding its capacity in the emerging Asian markets. The company’s expansion initiatives in China are expected to support earnings growth. Celanese’s integrated chemical complex in Nanjing, China, serves as a base for expansion in Asia, supporting the region's increasing demand.
Celanese is a Zacks Rank #2 (Buy) stock.
Other companies in the chemical space with favorable Zacks Rank include LyondellBasell Industries NV (LYB), Valhi Inc. (VHI) and Johnson Matthey plc. (JMPLY). All of these stocks hold a Zacks Rank #2 (Buy).
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