Specialty materials company Celanese Corp. said on Wednesday that it will raise the price of vinyl acetate-ethylene emulsions by 3 cents per pound.
The higher price will take effect Oct. 15 or as contracts allow.
The emulsions are used in adhesives, paint and coatings, carpet, paper, and other products.
Shares fell $4.32, or 10 percent, to close at $38.87 before the announcement. They dropped another 40 cents to $38.47 in aftermarket trading.