Home > Chemical News

Chemical News

US companies see growth in 2011

https://www.chemnet.com   Feb 13,2012 Prw
All three firms have filed their full-year financial results in recent weeks. Celanese's Advanced Engineered Materials unit-including its market-leading acetals business-saw sales grow 17% to almost $1.3bn (£821m) during 2011. The unit's pre-tax operating profit also increased 9% to $396m (£250m).

Based on sales, AEM ranked second among Dallas-based Celanese's four operating units in 2011, accounting for 18% of sales before eliminations. The unit also ranked second in pre-tax operating profit. AEM's sales volume in pounds also increased 2% during the year.

In an earnings release, Celanese officials credited AEM's fourth quarter growth to "successful innovation efforts amid a challenging economic environment, particularly in Europe". Overall sales at Celanese grew 14% to almost $6.8bn (£4.3bn) during 2011.

At Eastman, the firm's Specialty Plastics unit saw sales grow almost 15% to nearly $1.2bn (£758m) during 2011. Operating earnings for the unit-which includes Tritan-brand copolyester-also grew 19% to $105m (£66m).

Specialty Plastics' growth took place even as the unit's sales volume in pounds fell 2% for the year. Based on sales, Specialty Plastics was the smallest of Eastman's four operating units in 2011, generating about 17% of sales. The firm's overall sales grew almost 23% to almost $7.2bn (£4.5bn).

Eastman officials said that Specialty Plastics was able to increase selling prices for its product during 2011 in response to higher raw material and energy costs, particularly for paraxylene feedstock. They added that slightly lower sales volume was a result of weakened demand for copolyester product lines, particularly in packaging and consumer durable goods end markets.

Eastman already has made headlines in 2012 with its $3.4bn (£2.2m) acquisition of Solutia, a global producer of specialty chemicals and specialty plastic films. That deal was announced on 27 January.

For DuPont, its Performance Materials unit-including nylon and other engineering resins-saw sales grow 8% to $6.8bn (£4.3bn) , but pre-tax operating income slipped 6% to $924m (£584m). The unit's sales volume in pounds also fell 4% during the year.

Based on sales, Performance Materials ranked third among DuPont's eight operating units in 2011, bringing in about 18% of sales. It also ranked third in pretax operating income.

DuPont's 2011 plastics activity included a fluoropolymers joint venture with Chinese materials firm Shanghai 3F New Materials.

The JV will build a fluoropolymers plant in Changzhou, China. Overall sales at DuPont grew 20% to $38bn (£24bn) during 2011.

 Print  |    add to Favorites  |    Close