Celanese To Levy Charges On Engineered Product Shipments

 | Mar 26, 2018 10:15PM ET

Celanese Corporation (NYSE:CE) plans to implement supplemental charges on all engineered materials product shipments. The charges will be effective on all orders received on or after Apr 1, 2018 for all non-contract business.
The company will levy $100 per metric ton for all product shipments until further notice. The charge is in addition to product price hikes.
This move comes after the recent hike in product and logistics cost. According to the company, tight supply chain and resulting cost increases were the primary reasons behind this action.
The company shares have moved up 9.5% over a year, outperforming the

Celanese Corporation Quote

Zacks Rank & Stocks to Consider

Celanese has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are LyondellBasell Industries N.V. (NYSE:LYB) , Kronos Worldwide Inc. (NYSE:KRO) and BASF SE (OTC:BASFY) .
LyondellBasell has an expected long-term earnings growth rate of 9% and sports a Zacks Rank #1 (Strong Buy). The company’s shares have moved up 18% in a year. You can see Zacks Investment Research
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