Celanese Corporation (CE) will showcase the use of thermoplastic composites in semi-structural transportation applications as well as in on-board hydrogen storage in fuel-cell powered automobiles at the 2014 Composites and Advanced Materials Expo (CAMX), in Orlando, FL, from Oct 13-16.
Thermoplastic composites are highly preferred by the industries, such as power conductors, automotive, oil & gas and aerospace applications, which require high-strength, lightweight, recyclable materials as they support weight reduction, longer lifecycle and improved performance.
Celanese will showcase the use of unidirectional thermoplastic composite tapes to decrease mass and improve performance of a steel doorframe support frame on a commercial truck. The company will also present opportunities for hydrogen storage on fuel-cell powered automobiles.
Celanese is one of the world's largest producers of acetyl products as well as a leading global producer of high-performance engineered polymers. The company has taken up cost-cutting measures and all the necessary steps to run its plants better and counter weak demand.
Moreover, Celanese is aggressively expanding its capacity in the emerging Asian markets. The company’s expansion initiatives in China are expected to support earnings growth.
Recently, Celanese and Indian Oil Corporation of Delhi, India, signed a Memorandum of Understanding (MOU) to explore the possibility of a joint investment in a fuel ethanol plant to be constructed in India, which will utilize Celanese’s TCX Technology.
Celanese is a Zacks Rank #3 (Hold) stock.
Better-ranked stocks worth considering in the chemical space include Valhi Inc. (VHI), LyondellBasell Industries N.V. (LYB) and Akzo Nobel NV (AKZOY). While Valhi carries a Zacks Rank #1 (Strong Buy), LyondellBasell and Akzo Nobel have a Zacks Rank #2 (Buy).
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