Celanese updates regional dynamics of acetyl chain

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Company Declares Force Majeure Installation in Nanjing, China Due to Reduced Production; Partially lifts the force majeure of the Western Hemisphere

DALLAS & SHANGHAI, September 23, 2021– (BUSINESS WIRE) – Celanese Corporation (NYSE: CE), a global chemicals and specialty materials company, today confirmed a force majeure claim in China for the following acetyl chain products manufactured in its Nanjing factory, China:

The company has temporarily halted production of acetic anhydride and VAM in Nanjing to comply with recent ministry requirements to achieve double energy consumption targets in Jiangsu Province by 2021. Similar requirements for reduction of energy consumption are widely applied to large energy consumers. industries in several provinces. Following the cessation of VAM production, a force majeure declaration was also required for vinyl acetate emulsions and downstream redispersible powders.

Celanese continues to operate its acetic acid production unit in Nanjing.

Lifting of force majeure in the Western Hemisphere for certain products in the acetyl chain

Celanese is pleased to announce that it has lifted force majeure for the following products in the Western Hemisphere:

Celanese declared force majeure on February 18 due to the impacts of extreme winter conditions on its operations and supply chain on the U.S. Gulf of Mexico coast.

At this stage, the declaration of force majeure remains in force for the following products:

These products remain in the event of force majeure due to continuous interruptions in the availability of raw materials and global logistics.

“Across our three businesses, we continue to see significant disruption and volatility across all regions,” said Lori Ryerkerk, President and CEO. “We do not expect any significant impact to our third quarter performance from any of these regional updates for the acetyl chain.” Recently reduced acetyl production in China will further increase global utilization rates already tight and will likely lead to high price conditions which now go further in 2022. “

The Company will provide another update on Nanjing’s production status and regional acetyl chain dynamics in October when it reports its third quarter 2021 financial results.

About Celanese

Celanese Corporation is a global chemistry leader in the production of differentiated chemical solutions and specialty materials used in most major industries and consumer applications. Our operations use the full breadth of Celanese’s global chemical, technological and business expertise to create value for our customers, employees, shareholders and the company. As we partner with our customers to meet their most critical business needs, we strive to positively impact our communities and the world through the Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 people worldwide and reported 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 press release may contain “forward-looking statements”, which include information regarding the plans, objectives, goals, strategies, future income or performance of the company, capital expenditures and other information that is not historical information. When used in this version, the words “outlook”, “forecast”, “estimates”, “expects”, “anticipates”, “projects”, “plans”, “intend”, ” believes ”, and variations of these words or similar phrases are intended to identify forward-looking statements. All forward-looking statements are based on 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 to be 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 press release, including with respect to the acquisition. Numerous factors, many of which are beyond the control of the Company, could cause actual results to differ materially from those expressed in the form of forward-looking statements. Other risk factors include those discussed in documents filed by the company with the Securities and Exchange Commission. Any forward-looking statement is only valid as of the date on which it is made, and the Company does not undertake to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of or unforeseen events or circumstances.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210923005975/en/

Contacts

Celanese Contacts:
Investor Relations
Brandon Ayache
+1 972 443 8509
[email protected]

Corporate Media Relations – Global
W. Travis Jacobsen
+1 972 443 3750
[email protected]


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