Celanese raises 2007 profit forecast

Chemicals maker Celanese Corp raised its 2007 profit forecast on Tuesday on continued strength in Asia for its acetyl business, boosting its shares more than 5 percent.

Celanese, a leading producer of acetyls used in paints, inks, toys and agricultural products, said it expects earnings of $3.26 to $3.31 a share, up from its prior view of $3.10 to $3.20.

"The overall environment is better the we had perhaps anticipated for acetyl products. Pricing is a little bit stronger, volumes a little bit stronger, mostly in Asia," Chairman and Chief Executive officer David Weidman told Reuters.

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- Posted: 2007-12-11 10:15:53

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