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List of Stocks (Celanese Corporation (CE) (Product segments (Acetyl Chain,…

- - - - Project management pipeline, each product is tailored
      - Engineered materials
      - Food Ingredients business
    - - Contracts with number of tobbaco companies for cigarettes filters
      - Filtration
      - Films
      - Flexible packaging
    - - Paints / coatings
      - Adhesive
      - Lubricants
      - Pharma
      - Textiles
      - Inks
      - Solvents
      - Plasticizers
      - Levereged through the sale downstream & upstream
      - Automotive parts etc
    - - Nylon
      - Polyesters
      - UHMW-PE Thermoplastics
      - LFRT Thermoplastics
      - LCP Electronic Applications
      - TPE Plastics
      - Polypropylene
      - Sunnet Sweetener
      - Food protection
    - - Margin or the project expands or retracts depending on the project and the short term costs of raw material
  - - - Assets seem to grow reasonably, no huge bump increase from Q4 2018 to Q1 2019
      - Short term liabilities could be better managed with a 32.4% increase from Q1 2018 to first Q of 2019. Should watch out on the 23rd of July for any new increase in short term borrowings
      - Working Capital Management
        
        Increase in non trade receivables +14%
        
        -15% decrease in trade payables from Q4 2018 to Q1 2019
        
        Inventories -4% from December 2018 to March 2019
      - +4.6% increase in retained earnings
  - - - Commodity price increases (methanol) :check:
      - Decrease of affiliate numbers :check:
      - Engineered Materials EM not to recover untill second half of the year
      - Keep in mind that Q2 in the industry most of the time is accompagnied with headwinds :check:
      - Slower Q2 demand in China - due to safety concerns in Chinese province of Jiangsu
      - Decrease by more then half of the park of chemical plants in Jiangsu province (for environmental and safety issues) will increase competitors ~ Todd Elliot & Mark Rohr - Celanese top management :check:
        
        https://www.caixinglobal.com/2019-05-08/after-blast-jiangsu-waters-down-initial-plan-to-shutter-thousands-of-chemical-firms-101413122.html
        
        This will not impact the industril area after all & customers
        
        Still exposure for Celanese in the Nanjing park.
      - Flat QoQ2 EM volumes forward looking statement :check:
      - Moving production back to the US with low costs of energy in the U.S Gulf coast, cheaper then Singapore & China
      - GUR ultra high molecular weight polyethylene - battery separators for electric vehicules - China
      - Jump start again the economy in China to benefit Celanese - Trade deal necessary :check:
      - The downturn in growth in the global automotive industry was particularly strong: Globally, production declined by around 6% in the first half of 2019. In China, the world’s largest automotive market, the decrease was more than twice as high, at around 13%. :check:
        
        https://www.basf.com/global/en/media/news-releases/2019/07/p-19-268.html
        
        Uncertainty remains high
        
        Effects of China-Us trade dispute have been underestimated for BASF 2018 report, and expect the same for Celanese in Q2 2019 :check:
        
        Sales in China account for 15% of Celanese revenue and the Asian Pacific region represents 21% of BASF's revenue :check:
        
        Contraction in China's growth speed doesn't sound like good news for the sector and for Celanese, which had outline in the Q1 2019 earnings call that China's recovery & trade agreement are key to a less shaky Q2 :check: