Celanese announces Gulf plants reopened
Friday September 26, 9:57 am ET
Celanese announces Gulf plants reopened with minimal damage and no impact on 2008 EPS
DALLAS (AP) -- Chemical company Celanese Corp. said Friday all of its production facilities in the Gulf Coast have reopened after having been shut down during Hurricane Ike.
The plants suffered minimal structural damage, Celanese said.
The company estimates that the financial impact of the shutdown totals between $10 million and $15 million of operating EBITDA, or earnings before interest, taxes, depreciation and amortization.
The company does not expect the hurricane to affect its 2008 full year outlook for adjusted earnings per share of between $3.60 and $3.85. Analysts surveyed by Thomson Reuters expect earnings per share of $3.91, on average.
Shares of Celanese fell 54 cents to $30.09 in early morning trading.
Source: Associated Press
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