Celanese Updates Acetyl Chain Regional Dynamics
September 23 2021 - 5:58PM
Business Wire
Company Declares Force Majeure for Nanjing,
China Facility Due to Curtailed Production; Partially Lifts Western
Hemisphere Force Majeure
Celanese Corporation (NYSE: CE), a global chemical and specialty
materials company, today confirmed a declaration of force majeure
in China for the following Acetyl Chain products manufactured at
its Nanjing, China facility:
- Acetic Anhydride
- Vinyl Acetate Monomer (VAM)
- Vinyl Acetate Emulsions
- Redispersible Powders
The Company has temporarily shut down acetic anhydride and VAM
production in Nanjing to comply with recent requirements of
government departments in order to achieve dual energy consumption
targets in the Jiangsu Province in 2021. Similar requirements for
reduced energy consumption are being applied broadly on
energy-intensive industries across multiple provinces. As a result
of the shutdown of VAM production, a declaration of force majeure
was also necessary for downstream vinyl acetate emulsions and
redispersible powders.
Celanese continues to operate its acetic acid production unit in
Nanjing.
Lifting of Western Hemisphere Force Majeure for Certain
Acetyl Chain Products
Celanese is pleased to announce that it has lifted force majeure
for the following products in the Western Hemisphere:
- Acetic Acid
- Ethyl Acetate
- Acetic Anhydride
- Methyl Acetate
- Dimethylamine (DMA) and Trimethylamine (TMA)
- Methyl Isobutyl Carbinol (MIBC) and Methyl Isobutyl Ketone
(MIBK)
- Paraformaldehyde
Celanese declared force majeure on February 18 due to the
impacts of extreme winter weather on its operations and supply
chain in the U.S. Gulf Coast.
At this time, the force majeure declaration remains in place for
the following products:
- Vinyl Acetate Monomer
- Vinyl and Acrylic Emulsions
- Redispersible Powders
- Ethylene Vinyl Acetate
These products remain on force majeure as a result of ongoing
interruptions to the availability of raw materials and global
logistics.
“In all three of our businesses, we continue to see significant
disruptions and volatility across regions,” said Lori Ryerkerk,
chairman and chief executive officer. “We do not expect any
material impact to our third quarter performance from either of
these regional updates for the Acetyl Chain. “Recently curtailed
acetyls production in China will further lift already tightened
global utilization rates and likely result in elevated pricing
conditions that will now extend further into 2022.”
The Company will provide another update on the status of Nanjing
production and regional Acetyl Chain dynamics in October when it
announces its third quarter 2021 financial results.
About Celanese
Celanese Corporation is a global chemical 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
2020 net sales of $5.7 billion. For more information about Celanese
Corporation and its product offerings, visit www.celanese.com.
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, including the
announced acquisition. There can be no assurance that the company
or its customers 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,
including with respect to the acquisition. 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/20210923005975/en/
Celanese Contacts: Investor Relations Brandon
Ayache +1 972 443 8509 brandon.ayache@celanese.com
Corporate Media Relations – Global W. Travis Jacobsen +1
972 443 3750 william.jacobsen@celanese.com
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