Celanese Initiates Comprehensive Cost Assessment of Logistics Policies and Services for All Products
June 08 2018 - 6:00PM
Business Wire
Price increase also implemented on truck
shipments of select acetyl intermediates
Celanese Corporation (NYSE:CE), a global specialty materials
company, today announces that due to continued and projected
escalating cost increases for logistics services, the company has
begun a comprehensive assessment of all logistics policies for all
products to ensure that processes and services are conducted in the
most efficient and economical manner. Upon conclusion of this
assessment, Celanese expects to issue a new framework with
guidelines regarding shipments and services in order to best
address the increasing costs for freight as well as limited
availability of truck carrier capacity.
While this assessment is ongoing, Celanese today announces that,
effective immediately, it will implement a price increase of
$0.03/lb on all truck shipments of the following acetyl
intermediate products being sent from or delivered to the U.S. or
Canada, subject to any applicable contractual commitments:
- all grades of Formaldehyde and
Paraformaldehyde
- all grades of MIBC and MIBK
- all grades of Ethylene Vinyl
Acetate
- all grades of Emulsion Polymers
Implementing the above price increases is necessary at this time
given the increasing costs and fees that Celanese has already begun
to incur for freight and in order to secure truck carrier capacity
to deliver shipments of the above products to customers in the U.S.
and Canada. Celanese may also impose additional charges for rush
orders or customer requests for changes to orders which are made 72
hours or less prior to the estimated shipment date.
About Celanese
Celanese Corporation is a global technology leader in the
production of differentiated chemistry solutions and specialty
materials used in most major industries and consumer applications.
Our businesses use the full breadth of Celanese's global chemistry,
technology and commercial expertise to create value for our
customers, employees, shareholders and the corporation. As we
partner with our customers to solve their most critical business
needs, we strive to make a positive impact on our communities and
the world through The Celanese Foundation. Based in Dallas,
Celanese employs approximately 7,700 employees worldwide and had
2017 net sales of $6.1 billion. For more information about Celanese
Corporation and its product offerings, visit www.celanese.com or
our blog at www.celaneseblog.com.
All registered trademarks are owned by Celanese International
Corporation or its affiliates.
Forward-Looking Statements
This release may contain “forward-looking statements,” which
include information concerning the company’s plans, objectives,
goals, strategies, future revenues or performance, capital
expenditures and other information that is not historical
information. When used in this release, the words “outlook,”
“forecast,” “estimates,” “expects,” “anticipates,” “projects,”
“plans,” “intends,” “believes,” and variations of such words or
similar expressions are intended to identify forward-looking
statements. All forward-looking statements are based upon current
expectations and beliefs and various assumptions. There can be no
assurance that the company will realize these benefits or that
these expectations will prove correct. There are a number of risks
and uncertainties that could cause actual results to differ
materially from the forward-looking statements contained in this
release. Numerous factors, many of which are beyond the company’s
control, could cause actual results to differ materially from those
expressed as forward-looking statements. Other risk factors include
those that are discussed in the company’s filings with the
Securities and Exchange Commission. Any forward-looking statement
speaks only as of the date on which it is made, and the company
undertakes no obligation to update any forward-looking statements
to reflect events or circumstances after the date on which it is
made or to reflect the occurrence of anticipated or unanticipated
events or circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20180608005771/en/
Celanese CorporationInvestor RelationsSurabhi
Varshney, +1-972-443-3078surabhi.varshney@celanese.comorMedia
Relations – GlobalW. Travis Jacobsen,
+1-972-443-3750william.jacobsen@celanese.comorMedia Relations
Asia (Shanghai)Helen Zhang, +86 21 3861
9279lan.zhang@celanese.comorMedia Relations Europe
(Germany)Jens Kurth, +49(0)69 45009
1574j.kurth@celanese.com
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