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Celanese's Income Rises on Strong Demand and Higher Pricing

2:53 PM MDT | October 25, 2011 | Lindsey Bewley

Celanese reported third-quarter net income of $167 million, up 15% from the year-ago quarter, on sales up 20%, to $1.8 billion. Results were driven by higher pricing across all operating segments and favorable currency impacts. The higher pricing was a result of elevated year-over-year industry utilization in its acetyl intermediates segment, the recovery of rising raw material costs and continued strong demand throughout its global businesses, particularly in advanced engineered materials, the company says.   “Celanese delivered a record third...

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