Celanese Builds Out R&D in Korea - Analyst Blog

Celanese Corporation CE has announced the opening of the new Commercial Technology Center in the high technology valley of Pangyo, South Korea. The new center is the company's second research and development facility in the Asia region.

The R&D center will support the technology and chemistry innovations which cater industries such as electrical and electronics, automotive, consumer products, and information technology, as well as the emerging markets of life sciences, robotics and semiconductors.

Technologists at the center will deal directly with the customers, enabling Celanese to become their first-choice chemistry solution source. The team in collaboration with the customers will rapidly design, develop and launch differentiated, competitive products and new solutions that solve the most critical business needs of the customers.

The research and development center will support the growth of Celanese's customers in South Korea, expand the technical capabilities of its product portfolio, and ensure the growth of its global customer base.
Celanese posted strong first-quarter 2014 results on Apr 21. It reported adjusted earnings (excluding one-time items) of $1.33 per share, up 16.7% from $1.14 per share reported in the year-ago period. The results topped the Zacks Consensus Estimate of $1.21 per share.

Profit from continued operations (as reported) came in at $1.25 per share in the first quarter, surging roughly 42% from the earlier year figure of 88 cents per share.

Sales in the quarter were $1,705 million, up 6.2% year over year, surpassing the Zacks Consensus Estimate of $1,682 million.

Celanese currently carries a Zacks Rank #3 (Hold).

Other companies in the chemical industry worth considering include Compass Minerals International Inc. CMP, L'Air Liquide SA (AIQUY) and Koninklijke DSM N.V. (RDSMY). While Compass Minerals carries a Zacks Rank #1 (Strong Buy), L'Air Liquide and Koninklijke DSM sport a Zacks Rank #2 (Buy).

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