Celanese Announces Engineered Materials Price Increases

Rhea-AI Summary

Celanese Corporation (NYSE: CE) announced price increases across its engineered materials portfolio due to rising demand and increased costs for transportation, energy, and raw materials. Effective February 1, 2021, prices will rise for various products, including GUR ($0.25/kg), PA 66 ($0.30/kg), and others. Celanese remains committed to expanding its specialty product offerings and investing in technology to better serve its global customers. For further information, customers can reach out to their Celanese account managers.

Positive

• Price increases are a response to strengthening demand, indicating robust market conditions.
• Commitment to ongoing investments in specialty product offerings and technologies.

Negative

• Increased costs for transportation, energy, and raw materials may pressure profit margins.

Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced price increases on its portfolio of engineered materials in response to strengthening demand for its products and increased transportation, energy and raw material prices. The price increases below will be effective for orders shipped on or after February 1, 2021, or as contracts otherwise allow.

Product	Global
GUR	$0.25 kg
PA 66	$0.30 kg
PA 6	$0.20 kg
PBT	$0.20 kg
Technical TPE	$0.15 kg
PP, LFT & Amorphous	$0.30 kg
POM	$0.20 kg

Individual grades may be subject to higher increases than specified above.

Celanese is a leading supplier of engineered materials and the only supplier with global production facilities providing local supply to all regions of the world. Celanese continues to support its customers globally with a growing specialty portfolio of engineering polymers and functionalized grades. The company is committed to enhancing its specialty product offerings and capabilities through ongoing investments in compounding assets, technologies, and product and application expertise.

Customers should contact their Celanese account manager for more information.

About Celanese

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210118005490/en/

FAQ

What are the new prices announced by Celanese for its engineered materials?

Celanese announced price increases for several products including GUR ($0.25/kg), PA 66 ($0.30/kg), and PA 6 ($0.20/kg), effective February 1, 2021.

When will the price increases for Celanese products take effect?

The price increases will be effective for orders shipped on or after February 1, 2021.

Why is Celanese increasing prices on its engineered materials?

The price increases are due to strengthening demand for its products and rising costs of transportation, energy, and raw materials.

What is Celanese's commitment regarding its specialty product offerings?

Celanese is committed to enhancing its specialty product offerings through ongoing investments in technologies and capabilities.