Welcome to our dedicated page for Celanese Corporation news (Ticker: CE), a resource for investors and traders seeking the latest updates and insights on Celanese Corporation stock.
Celanese Corporation (symbol: CE) is a global leader in the production and innovation of chemical and specialty materials. Aimed at creating value for its customers, Celanese operates through various segments, including the Acetyl Chain and Materials Solutions. The company is renowned for being one of the largest producers of acetic acid and downstream derivatives, which play critical roles in industries such as chemicals, coatings, and adhesives.
Celanese also excels in the production of specialty polymers, widely utilized in sectors like automotive, electronics, medical, construction, and consumer goods. Additionally, the company produces cellulose derivatives used prominently in cigarette filters, further expanding its diverse product portfolio.
With a global production network and a commitment to innovation, Celanese partners with its clients to bring inspired ideas to life. Recent achievements include expansions in their acetyl chain capabilities and strategic partnerships to enhance their materials solutions offerings.
Financially, Celanese remains robust, continually investing in research and development to foster innovation and maintain a competitive edge. The company's operations are supported by a dedicated team of engineers, scientists, product developers, and problem solvers who strive to meet customer needs while contributing positively to the world.
Latest News:
- Celanese Corporation reports strong quarterly earnings.
- Expansion in the acetyl chain production facilities announced.
- New partnerships established to advance specialty polymer solutions.
Celanese (NYSE: CE) has announced Todd Elliott will rejoin the company as Senior Vice President to lead the Engineered Materials business, effective February 3, 2025. Elliott, who previously retired from Celanese in 2020 as SVP and head of the Acetyls business, will succeed Tom Kelly, who is stepping down. During his previous tenure at Celanese, Elliott held multiple leadership roles and was instrumental in launching the customer project pipeline model.
For the past five years, Elliott has worked as an independent consultant in the chemicals and polymers industry. CEO Scott Richardson expressed confidence in Elliott's ability to enhance operational efficiency and drive improved growth and profitability. The company is currently focusing on cost reduction, deleveraging the balance sheet, and reducing risk in its capital structure.
Celanese, a Fortune 500 company with approximately 12,400 employees worldwide, reported net sales of $10.9 billion in 2023.
Celanese (NYSE: CE) has announced its upcoming fourth quarter 2024 earnings conference call, scheduled for February 19, 2025, at 9:00 a.m. ET. The company will release its earnings press release after NYSE market close on February 18, 2025. The conference call will be accessible via webcast and phone, with replay available until March 5, 2025.
The press release includes background information about Celanese, noting it is a Fortune 500 company with approximately 12,400 employees worldwide and 2023 net sales of $10.9 billion. The company specializes in chemistry and produces specialty material solutions used across major industries and consumer applications.
Celanese (NYSE: CE) has issued a warning about an unsolicited 'mini-tender' offer from TRC Capital Investment TRC Capital is attempting to purchase up to 1,500,000 shares of Celanese's common stock at $65.50 per share, which is 4.49% below the closing price of $68.58 on December 13, 2024.
Celanese strongly recommends shareholders reject this offer and advises those who have already tendered shares to withdraw them before the January 16, 2025 deadline. The company emphasizes it is not associated with TRC Capital or this offer. Since the offer is for less than 5% of outstanding shares, it bypasses many SEC investor protection requirements.
The offer includes conditions including that Celanese's share price must not decrease by more than 5% from December 13, 2024. Celanese, a Fortune 500 company with 2023 net sales of $10.9 billion and approximately 12,400 employees worldwide, urges shareholders to exercise caution and consult current market quotations.
Cloverdale Paint has partnered with Celanese (CE) to implement carbon capture and utilization (CCU) technology in paint manufacturing. The collaboration will utilize over 1 million pounds of CO2 emissions annually, converting industrial waste emissions into renewable feedstocks for paint production.
The process involves capturing CO2 emissions and applying hydrogen to convert them into methanol building blocks, which are used in vinyl acetate-based emulsions for paint manufacturing. This method reduces fossil fuel usage and promotes a circular economy, with sustainable content tracked through mass balance accounting.
The partnership aligns with Cloverdale Paint's Green Guarantee commitment and Celanese's sustainability initiatives. Celanese, a Fortune 500 company with $10.9 billion in net sales (2023) and approximately 12,400 employees worldwide, brings its expertise in specialty materials and chemical solutions to this sustainable paint manufacturing initiative.
Celanese (NYSE: CE) has announced the election of Christopher Kuehn to its Board of Directors, effective January 1, 2025. Kuehn, 52, currently serves as Executive Vice President and CFO of Trane Technologies plc. His appointment will bring the total board members to 12, with 11 being independent.
In his current role, Kuehn oversees global finance functions, enterprise risk management, and global information technology. He previously held senior positions at Ingersoll Rand, Whirlpool , and SPX The appointment adds financial and risk management expertise to Celanese's board, which reported 2023 net sales of $10.9 billion and employs approximately 12,400 people worldwide.
Celanese (NYSE: CE) announced a leadership transition effective January 1, 2025. Scott Richardson, currently Chief Operating Officer, will become CEO and join the Board of Directors, succeeding Lori Ryerkerk, who is stepping down as Chairman, CEO and director at the end of the year. Edward Galante, an independent director since 2013, will become Chair of the Board.
Richardson brings two decades of experience at Celanese, having served in key roles including COO, CFO, and leadership positions in Engineered Materials and Acetyl Chain businesses. He was instrumental in creating and implementing the operating models that work together as a strategic pair to create value.
The appointment comes as part of a deliberate succession planning process, with Richardson committing to drive cost structure improvements and cash generation.
Henkel and Celanese have announced a partnership to enhance circularity in emulsion production using carbon capture-based materials. The collaboration leverages Celanese's carbon capture and utilization (CCU) technology at its Clear Lake, Texas site, which converts industrial CO2 emissions into methanol - a key component of vinyl acetate monomer used in adhesive formulations.
Through this partnership, Henkel will produce water-based adhesives made from captured CO2 emissions, creating opportunities for packaging and consumer goods customers to increase renewable content in their products. The CCU-based adhesives will primarily benefit the Paper & Board, Envelopes & Graphic Arts, E-commerce, Labeling and Tissue & Towel industries.
Celanese has released its 2023-2024 Sustainability Report, 'The Chemistry of Change,' and Sustainability Index. The report highlights the company's expansion of lower-carbon footprint solutions and commitment to innovation across businesses and supply chains. Key achievements include launching a carbon capture project at Clear Lake, Texas, becoming the first to receive ISCC Carbon Footprint Certification for low-carbon CCU methanol, and partnering with Under Armour® for NEOLAST™ sustainable fiber.
The company has integrated legacy DuPont Mobility & Materials facilities into its environmental data, updated water risk assessment processes, and enhanced Scope 3 GHG emissions quantification. Notable governance achievements include 40% female Board members and 33% female senior leadership. The report aligns with SASB Chemicals Sector Standard, TCFD, and UN SDGs frameworks.
Celanese (NYSE: CE) reported third quarter 2024 results with U.S. GAAP diluted EPS of $1.08 and adjusted EPS of $2.44. Net sales reached $2.6 billion, slightly down from the previous quarter. The company faced persistent demand weakness across key markets, particularly in automotive and industrial segments. Operating profit was $248 million, with adjusted EBIT of $457 million and operating EBITDA of $644 million.
In response to challenges, Celanese announced plans to reduce quarterly dividend by 95% starting Q1 2025, implement cost reduction programs targeting $75 million in savings by end of 2025, and secure a $1 billion term loan for maturing debt.
Celanese (NYSE: CE), a global chemical and specialty materials company, has declared a quarterly cash dividend of $0.70 per share on its common stock. The dividend is payable on November 13, 2024, to stockholders of record as of October 30, 2024.
Celanese is a Fortune 500 company with approximately 12,400 employees worldwide and 2023 net sales of $10.9 billion. The company is committed to sustainability, responsibly managing materials throughout their lifecycle, and growing its portfolio of sustainable products. Celanese aims to make a positive impact in communities and foster inclusivity across its teams.
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