Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

CELANESE CORPORATION

(CE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Celanese : Announces GUR® Capacity Expansion Plans in Europe

03/24/2021 | 03:51pm EDT

Growth dynamics from EV sector create momentum in Europe for UHMW-PE production

Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announces its intent to expand its GUR® ultra-high molecular weight polyethylene (UHMW-PE) production capacity in Europe.

In addition to the recently announced Bishop, Texas, GUR® expansion of approximately 15KT per year coming online beginning in 2022, Celanese intends to invest in additional capacity for GUR® in Europe. The expansion in Europe is expected to be online beginning in 2024 with an annual nameplate capacity of approximately 34KT. Site selection for this new European facility is underway, and Celanese is considering both existing and greenfield locations for a GUR® production unit.

The addition of a new UHMW-PE production facility in Europe will support the significant growth in the company’s high-value GUR® engineered materials portfolio. With this investment, Celanese will be able to support the double-digit growth for LIBS (Lithium Ion Battery Separators) in the electric vehicle (EV) market. The new facility will also have the option to produce medical grade GUR®.

“EV demand is expected to have a compounded annual growth rate of greater than 25 percent through 2025, resulting in strong demand for Celanese GUR® for LIBS,” said Tom Kelly, Celanese Senior Vice President, Engineered Materials. “We see separator manufacturers and battery producers investing in the European region and looking for local supply. European demand in that sector for UHMWE-PE is forecasted to outperform demand in Asia, and Celanese is well positioned as the world’s premier GUR® manufacturer to support this demand requirement.”

Customers look to Celanese for a reliable supply of GUR® that meets very stringent quality standards, and the recently announced capacity expansions at the company’s Bishop, Texas integrated chemical complex will enable Celanese to continue to support a growing and diverse customer base and respond to the increasing need for specialty materials such as UHMW-PE. Furthermore, the expansion of GUR® capacity completed in June of 2019 at the company’s Nanjing, China, integrated chemical complex, continues to position Celanese as the only truly global producer of UHMWE-PE, giving Celanese the unique ability to work closely with its customers in all regions of the world.

Financial details of this GUR® expansion are not being disclosed at this time. Additional project details will be announced as further developments are available.

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. 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. Numerous other 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.


© Business Wire 2021
All news about CELANESE CORPORATION
09/10CELANESE : Raises 500 Million Euros via 2028 Notes for Debt Refinancing
MT
09/10CELANESE : Announces Completion of Senior Unsecured Notes Offering, Satisfying F..
PU
09/10CELANESE : Announces Completion of Senior Unsecured Notes Offering, Satisfying F..
BU
09/09CELANESE : Announces Early Results of Cash Tender Offer for Celanese US Holdings..
PU
09/09CELANESE CORP : Other Events (form 8-K)
AQ
09/09CELANESE : Announces Early Results of Cash Tender Offer for Celanese US Holdings..
BU
09/03CELANESE CORP : Entry into a Material Definitive Agreement (form 8-K)
AQ
08/25CELANESE : Launches Tender Offer for Up to 300 Million Euros of 1.125% Senior No..
MT
08/25CELANESE : Announces Cash Tender Offer for up to €300,000,000 Aggregate Principa..
PU
08/25CELANESE CORP : Other Events (form 8-K)
AQ
More news
Analyst Recommendations on CELANESE CORPORATION
More recommendations
Financials (USD)
Sales 2021 7 993 M - -
Net income 2021 1 769 M - -
Net Debt 2021 2 832 M - -
P/E ratio 2021 9,41x
Yield 2021 1,82%
Capitalization 16 546 M 16 546 M -
EV / Sales 2021 2,42x
EV / Sales 2022 2,43x
Nbr of Employees 7 658
Free-Float 65,3%
Chart CELANESE CORPORATION
Duration : Period :
Celanese Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CELANESE CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 148,91 $
Average target price 179,75 $
Spread / Average Target 20,7%
EPS Revisions
Managers and Directors
Lori J. Ryerkerk Chairman, President & Chief Executive Officer
Scott A. Richardson Chief Financial Officer & Executive Vice President
David F. Hoffmeister Independent Director
Jay V. Ihlenfeld Independent Director
Edward G. Galante Lead Independent Director
Sector and Competitors