Celanese leverages its commodity acetic acid production through higher-value chemical derivatives.
Although Celanese reported decent first-quarter results, we think the more important takeaway is that margins have begun to normalize. As we've argued in prior quarters, the company's margins have expanded to unsustainable levels, as selling prices have not followed raw material costs lower. This trend is beginning to revert. While first-quarter revenue grew 5% year on year as a result of increased volumes, lower pricing in the company’s core Materials Solution segment drove operating EBITDA mar...Celanese is a holding company. Through its subsidiaries, the company is a chemical and specialty materials company. The company is a producer of engineered polymers and a producer of acetyl products, which are intermediate chemicals. The company's segments are: Engineered Materials, which develops, produces and supplies a portfolio of specialty polymers for automotive and medical applications, as well as industrial products and consumer electronics; Acetate Tow, which is a producer and supplier of acetate tow and acetate flake, primarily used in filter products applications; and Acetyl Chain, which includes the chain of intermediate chemistry, emulsion polymers and ethylene vinyl acetate polymers businesses.
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