Stock Profile: Acetex Corporation Symbol: ATX (TSE)

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Stats as of 4/06/01

• H/L Ratio: 1.77 • RS: 85.3 • Shares: 26,116,364 • P/E: 9.62 • Price: $10.00

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It may only be vinegar, but it holds a lot of profit potential. Acetex Corporation is a company that manufactures acetic acid and vinyl acetate monomers (VAMs), useful products in numerous applications. (Vinegar is actually a minor use of the acid and is not even listed on Acetex's website.)

This international company is headquartered in Vancouver with plants in France and Spain. Its focus is to acquire and develop high quality, intermediate chemical companies from large industrial concerns that want to divest themselves of non-core businesses. They are "strong, well-positioned businesses that are simply outside the future focus of the parent Company."

Acetex then applies its expertise to growing these companies by refocusing management and instilling an entrepreneurial spirit by employee and management participation in stock option and purchase plans, and a bonus structure tied to company performance.

The company is the second largest producer of acetic acid and VAMs in Europe. The company produces a wide range of chemical products derived from acetic acid including polyvinyl alcohol and methyl actetate. The company's website has an interesting chart showing acetic acid, its derivatives and its uses. These chemicals are used in textiles (polyesters), packaging, paints and lacquers, food, dyes, pharmaceuticals, paints, adhesives, PVB safety glass, detergents and tobacco processing.

After several years of losses, the company turned the corner to profitability in 2000.

Quarterly Earnings per Share

Annual Earnings per Share