Welcome to our dedicated page for Celanese Del news (Ticker: CE), a resource for investors and traders seeking the latest updates and insights on Celanese Del stock.
Celanese Corporation (NYSE: CE) is a global specialty materials and chemical company that regularly issues news and updates related to its operations, financial performance and strategic decisions. The company describes itself as a global leader in chemistry, producing specialty material solutions used across most major industries and consumer applications. Its news flow reflects both its role in the basic organic chemical manufacturing industry and its position as a Fortune 500 company.
Investors following Celanese news can expect frequent announcements on earnings and investor communications. The company issues press releases and hosts conference calls and webcasts to discuss quarterly financial results, as seen in its announcement of a fourth quarter earnings conference call and related 8-K filings. Celanese also participates in investor events, including fireside chats with financial institutions, where its President and Chief Executive Officer presents to investors and analysts.
Celanese news also covers capital structure and financing activities. Recent releases describe registered offerings of senior notes by its subsidiary Celanese US Holdings LLC, the pricing and upsizing of those offerings, and cash tender offers for existing senior notes due in 2027 and 2028. Related updates explain how proceeds are used to repay borrowings under a term loan credit agreement, fund tender offers and support general corporate purposes.
Operational and portfolio developments appear in the company’s news as well. Celanese has announced the intended closure of an acetate tow production facility in Lanaken, Belgium, to streamline production costs, and the signing of a purchase and sale agreement to divest its Micromax® portfolio of products. Other news highlights sustainability-related milestones, such as achieving ISCC Carbon Footprint Certification for certain POM ECO-C grades at production sites in Frankfurt, Germany, and Bishop, Texas, reflecting the company’s stated focus on responsible material management and sustainable products.
By monitoring Celanese news, readers can track updates on governance changes, such as Board member resignations, sustainability initiatives, financing transactions and scheduled earnings events that shape the company’s strategic direction.
Celanese Corporation (NYSE: CE) plans to expand its GUR® ultra-high molecular weight polyethylene (UHMW-PE) production capacity in Europe, adding approximately 34KT of capacity by 2024. This expansion follows a similar increase in Bishop, Texas, which adds 15KT annually starting in 2022. The new facility aims to meet growing demand in the electric vehicle market, particularly for lithium-ion battery separators, projected to grow at over 25% annually through 2025. Financial details of the expansion remain undisclosed, but Celanese is well-positioned as a leading global manufacturer.
Celanese Corporation (NYSE: CE) announced strategic expansions in its emulsion polymers and vinyl acetate production, focusing on facilities in Nanjing, China, and Frankfurt, Germany. The Nanjing site will see a 50,000KT to 90,000KT increase in vinyl acetate monomer (VAM) capacity, while acetic anhydride production will grow by 10KT annually. New VAE reactors in both locations aim to enhance production by 65KT and 45KT respectively by 2023. Additionally, debottlenecking in Europe will add 20KT to redispersible polymer powders capacity by 2023, strengthening Celanese's market leadership.
Celanese Corporation (NYSE: CE) announced the integration of recycled carbon dioxide (CO2) into its methanol production at the Clear Lake, Texas facility, a move aimed at enhancing sustainability. This process, part of an expansion of the Fairway joint venture with Mitsui & Co., Ltd., is projected to significantly reduce CO2 emissions, eliminating the equivalent of 39,000 cars annually. The initiative aligns with Celanese's commitment to sustainability and operational efficiency, contributing to broader environmental goals.
Celanese Corporation (NYSE: CE) has raised its full year 2021 adjusted earnings outlook to $11.00 to $11.50 per share, reflecting a 15% increase from its previous guidance of $9.50 to $10.00. Despite the impact of Winter Storm Uri on Texas operations, facilities are operating at pre-storm levels. The company anticipates strong first-quarter adjusted earnings of around $3.00 per share, driven by increased demand for Acetyl Chain and Engineered Materials products. Major turnarounds have been accelerated to meet market needs.
Celanese Corporation (NYSE: CE) has declared force majeure due to severe winter weather impacting its operations and those of its suppliers in the Texas Gulf Coast. This declaration affects the production of multiple products, including Acetic Acid and Vinyl Acetate Monomer. The extreme conditions have hindered access to critical utilities necessary for production, forcing Celanese to halt operations at affected sites. The company is communicating with customers regarding allocation volumes and will notify them when production resumes.
Celanese Corporation (NYSE: CE) announced an extension of its long-term carbon monoxide supply contract with Linde Gas Singapore Pte. Ltd. for its Singapore acetyls chemical facility. This contract ensures a reliable supply of carbon monoxide, crucial for Celanese's 600 kiloton acetic acid production plant, enhancing operational flexibility. Celanese has partnered with Linde since 2004 and aims to support its global acetyl chain business through this agreement. Financial terms of the contract were not disclosed.
Celanese Corporation (NYSE: CE) reported strong financial results for 2020, with GAAP diluted EPS of $16.85 and adjusted EPS of $7.64. Net sales totaled $5.7 billion, marking declines of 6% in pricing and 5% in volume from 2019. The company generated $1.3 billion in operating cash flow and $950 million in free cash flow, returning $943 million to shareholders through buybacks and dividends. The sale of Polyplastics provided $1.6 billion, enabling significant share repurchases. Looking forward, Celanese expects adjusted EPS of $9.50 to $10.00 for 2021, driven by demand recovery and operational improvements.
Celanese Corporation (NYSE:CE) has announced a 10% increase in its quarterly cash dividend, raising it from $0.62 to $0.68 per share. This dividend adjustment reflects anticipated earnings growth and strong cash generation for 2021. The new annual dividend rises from $2.48 to $2.72 per share, with the payment scheduled for February 23, 2021 to stockholders of record by February 9, 2021. CEO Lori Ryerkerk emphasized the company's commitment to growing dividends in line with future earnings, enhancing total shareholder value.
Celanese Corporation (NYSE: CE) announced a 15-year contract extension with Calpine Energy Solutions to add solar power to its Clear Lake, Texas chemical manufacturing facility's energy supply. The agreement will provide 45 megawatts of solar power, accounting for about 33% of the plant's annual electricity needs and 65% of its daytime summer usage. This initiative is part of Celanese's commitment to sustainability, aiming to significantly reduce greenhouse gas emissions while managing electricity costs during peak periods. Financial terms were not disclosed.
Celanese Corporation (NYSE: CE) will host a virtual Investor Day on March 25, 2021, from 9:00 a.m. to 12:00 p.m. Eastern time. CEO Lori Ryerkerk and the executive team will share insights on business strategies and growth outlook through 2023. Presentation materials will be available at approximately 6:00 a.m. on the same day, with a replay accessible for six months post-event. Celanese, a global leader in specialty materials, reported $6.3 billion in net sales for 2019 and employs around 7,700 people globally.