Celanese Starts Global Acetic Acid Network Productivity Effort with Expansion in USA and Rationalization in Asia

Mon, January 28 2019

Global reconfiguration project positions company for significant productivity gains, improved cost structure and growth

DALLAS--(BUSINESS WIRE)-- Celanese Corporation (NYSE:CE), a global chemical and specialty materials company, today announced that it will initiate the reconfiguration of its global acetic acid production network through multiple value creation steps.

• Celanese recently announced the planned acquisition of the carbon monoxide production unit from Linde PLC, located at the company’s Clear Lake, Texas site. This acquisition increases our available raw material supply and further enhances the company’s integration position and supports unparalleled operational flexibility.
• In addition, the company today announces that its Clear Lake acetic acid facility will be expanded from 1.3 million tons per annum to approximately 2.0 million tons per annum by late 2021. This project delivers unique network rate flexibility, improved cost structure of the global acetic acid product portfolio and a platform easily expandable by an additional 600 kilo tons per annum.
• The expansion will facilitate productivity options within its global acetic acid network in both Singapore and Nanjing, China, leading to approximately 600 kilo tons per annum of production rationalization and limited net change in total system tonnage.
• These projects will generate approximately $100 million of productivity and efficiency benefits across the platform as completed.

“By reconfiguring our global production capabilities through these capital-efficient, value-creation steps, Celanese will have a more optimized production network supporting our customer base,” said Todd Elliott, Celanese Senior Vice President, Acetyls. “Furthermore, this strengthening of our position in Clear Lake supports the recently completed VAM expansion.”

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 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 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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Investor Relations
Chuck Kyrish
+1 972-443-4574
chuck.kyrish@celanese.com

Media Relations – Global
W. Travis Jacobsen
+1 972 443 3750
william.jacobsen@celanese.com

Media Relations Asia (Shanghai)
Helen Zhang
+86 21 3861 9279
lan.zhang@celanese.com

Media Relations Europe (Germany)
Jens Kurth
+49(0)69 45009 1574
j.kurth@celanese.com

Source: Celanese Corporation