Celanese Extends and Enhances Key Carbon Monoxide Feedstock Contract for Nanjing, China Site
Mon, 22 Jun 2020
DALLAS & SHANGHAI--(BUSINESS WIRE)--
Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced that its subsidiary, Celanese (Nanjing) Chemical Co. Ltd., has recently extended its long-term contract with Nanjing Chengzhi Clean Energy Co., Ltd for the supply of carbon monoxide to its chemical facility in the Nanjing Chemical Industrial Park, Nanjing City, in eastern China (Jiangsu Province). Financial details of the contract were not disclosed.
Carbon monoxide is a key feedstock in the production of acetic acid. The extended contract will provide Celanese’s Nanjing facility with an ongoing and reliable supply of carbon monoxide for its 1,200 kiloton acetic acid plant.
“Chengzhi has been a valued partner of Celanese for many years, and this extension will continue to provide Celanese with a flexible and reliable supply of carbon monoxide supporting the acetyl chain in the region,” said John Fotheringham, Celanese Senior Vice President, Acetyls. “I am delighted that our close cooperation with Chengzhi has enabled Celanese to lower its manufacturing cost in China while enhancing our operational flexibility in support of our long-term growth strategy.”
With manufacturing and distribution in all regions, Celanese is a leading producer of acetic acid, which is a basic chemical used in paints and coatings, adhesives, plastic bottles, food packaging and construction materials.
Nanjing Chengzhi Clean Energy Co., Ltd is a high-tech company the major shareholder of which is Tsinghua University; additionally, it is a member enterprise of Tsinghua Holdings Co Ltd., a key enterprise in Jiangxi Province, and the industrial platform for industrializing Tsinghua University’s scientific and technological achievements in fields such as clean energy, functional materials and medical healthcare.
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 2019 net sales of $6.3 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.
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Source: Celanese Corporation