Celanese ups operating cash flows to $481 million, credits earnings

By Aleesia Forni

Columbus, Ohio, Oct. 25 - Celanese Corp. generated $481 million of cash from operating activities during the first nine months of 2011, a $118 million increase from its prior-year results.

"Our improved earnings performance coupled with our strong fiscal discipline has driven sustained cash generation throughout the year," chief financial officer Steven Sterin said during the company's third-quarter earnings conference call on Tuesday.

The company continues to maintain a "balanced approach" between acquisitions, share repurchases and dividends with regards to its cash deployment, according to Sterin.

Sterin said the company is "still encouraged by what we see" in its acquisition pipeline, though "it's certainly a little bit less robust than it was a couple of years ago."

Net debt as of Sept. 30 was $2.35 billion, a $128 million decrease from the end of 2010.

Celanese is a Dallas-based producer of specialty and intermediate chemical products.

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