US Celanese Q3 operating profits down 15%

22 October 2007 23:58  [Source: ICIS news]

HOUSTON (ICIS news)--US chemical company Celanese reported on Monday operating profits of $147m (€103m) in the third quarter, down 15% from $172m reported during the same time last year.

Celanese attributed the drop to increased charges and to the sale of its AT Plastic Films business.

Net sales in the third quarter were $1.57bn, up 7% from $1.47bn reported during the same time last year, Celanese said.

The company attributed the increase to strong global demand for acetyl intermediates and to its recently acquired Acetate Products Limited business.

In addition, the company's Advanced Engineered Materials division reported higher volumes, and the company's acetic-acid plant in Nanjing, China, had started production, Celanese said.

Volumes in the company's acetyl intermediates and industrial specialties division were lower due to an outage at the company's acetic-acid plant in Clear Lake, Texas, Celanese said. The plant restarted in early August.

($1.00 = €0.70)

By: Al Greenwood
+1 713 525 2653

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