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Celanese Reports Fourth-Quarter Income More Than Doubles

5:38 AM MST | February 5, 2008 | Kerri Walsh

Celanese reported fourth-quarter net income up more than doubled, to $214 million ($1.27/share), on sales up 23%, to $1.76 billion. Higher pricing on continued strong global demand for acetyl intermediates, favorable currency exchange rates, growth in Asia, and sales from recently acquired Acetate Products (APL) business led the sales increase, Celanese says. Operating income doubled, to $324 million including $93 million of certain adjustments. Those adjustments include a $34-million gain on the sale of the company’s facility in Edmonton, Canada, a $31-million...

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