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Celanese Corporation produces chemistry and specialty material solutions through businesses that include the Acetyl Chain and Engineered Materials. Company updates commonly cover acetyl-chain pricing and supply actions for acetic acid, vinyl acetate monomer, acetyl derivatives, dispersions, EVA, solvents, and related products, along with engineered-materials developments in specialty polymers used across automotive, electronics, medical, building, and consumer markets.
Celanese news also includes earnings releases, dividend declarations, manufacturing-footprint actions, nylon and POM production updates, carbon capture and utilization applications in binders for airlaid nonwovens, and board governance changes.
Celanese Corporation (NYSE: CE) has lifted the remaining elements of the force majeure declared on May 11, 2022, that pertained to acetate tow products. This decision marks a significant milestone for the company as it resumes normal operations in this segment, which is crucial for various industries. Celanese emphasizes its commitment to delivering differentiated chemistry solutions and specialty materials, showcasing its robust business model and expertise in the sector.
Celanese Corporation (NYSE: CE) announced a price increase for several products effective December 1, 2022, or as contracts allow. Notable increases include a 15% hike for UHMW-PE across APAC, AMER, and EMEA, and specific increases per kg for different materials such as 0.50 for LCP and 1.50 for AEM. The company's strong positioning in specialty materials will support these changes, which aim to mitigate rising costs. This strategic decision is consistent with Celanese's efforts to enhance profitability amidst market challenges.
Celanese Corporation (NYSE: CE) reported third quarter 2022 diluted EPS of $1.76 and adjusted EPS of $3.94, with net sales of $2.3 billion, reflecting a 7% decline from the prior quarter. The decrease resulted from a price drop of 3% and a volume reduction of 2%. Operating profit stood at $308 million, impacted by rising costs and a decline in demand, particularly in Europe and Asia. The acquisition of Mobility & Materials completed on November 1, 2022, aims to enhance growth. Fourth quarter adjusted EPS guidance is set between $1.50 and $2.00, factoring in the acquisition's impact.
Celanese Corporation (NYSE: CE) has successfully acquired the majority of the Mobility & Materials (M&M) business from DuPont. This acquisition enables Celanese to enhance its position as a global leader in specialty materials, incorporating renowned brands and extensive product portfolios into its operations. The transaction, initially announced in February 2022, includes a range of engineered thermoplastics and elastomers along with global production capabilities. Future commentary on the acquisition will be provided during the upcoming third-quarter earnings call.
Celanese Corporation (NYSE: CE) has announced the lifting of the force majeure declared on May 11, 2022, for several Acetyl Chain products in the Western Hemisphere, including acetic acid and vinyl acetate monomer. However, the company is unable to lift the force majeure for its acetate tow products due to ongoing supply chain issues. Celanese continues to assess its supply and logistics challenges and will notify when normal supply resumes.
Celanese Corporation (NYSE: CE) has declared a quarterly cash dividend of $0.70 per share, an increase from the previous $0.68 per share, effective November 14, 2022, to shareholders on record as of October 31, 2022. This 3% raise reflects a commitment to returning value to shareholders, representing an additional cash outlay of less than $10 million based on current shares. Celanese emphasizes a decade-long history of annual dividend growth, aligning this increase with their deleveraging plan following the acquisition of Mobility & Materials.
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Celanese Corporation (NYSE: CE) has announced a significant investment in expanding its capabilities to meet the rising global demand for pharmaceutical-grade polymers. A new 1,000-square-foot cleanroom facility in Edmonton, Alberta, will be dedicated to cryogenic micronization of VitalDose® EVA material. This process aims to enhance drug delivery solutions for various medical conditions, including cancer and retinal disorders. The facility is expected to begin operations by early 2023, further solidifying Celanese's position in the pharmaceutical market.
Celanese Corporation (NYSE: CE) is set to host its third quarter 2022 earnings call on November 4, 2022 at 10:00 a.m. Eastern time. The call will occur later than usual, as the company anticipates completing its acquisition of DuPont Mobility & Materials on November 1, 2022, pending regulatory approvals. This delay is expected to provide more insight into current demand conditions for a more relevant business outlook. The earnings press release will be available post-market on November 3, 2022.
Celanese Corporation (NYSE: CE) has received a grant from the Bill & Melinda Gates Foundation to develop a refillable contraceptive implant. This project aims to create a functional prototype within 18 months, focusing on enhancing access to contraceptive options for women in low- and middle-income countries. The development will leverage Celanese's VitalDose® drug delivery technology, which has a strong history in women's health. This initiative aligns with Celanese's mission to expand healthcare access globally.