23 October 2012 00:32 [Source: ICIS news]
HOUSTON (ICIS)--Celanese’s third quarter earnings dropped nearly 30% year on year and sales fell off 11% because of continuing weak demand for the producer’s acetyl products and derivatives, the US-based company said on Monday.
Net earnings totalled $117m (€90m), compared with $167m in the same quarter a year earlier, the company said.
Net sales totalled $1.609bn, compared with $1.807bn in the same period of 2011.
Celanese’s new chief executive, Mark Rohr, called it a solid quarter in a challenging economic environment, adding that demand for acetyl products and derivatives remained at “trough-like conditions”.
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