Celanese Announces Engineered Materials Price Increases

Rhea-AI Summary

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.

Positive

• Announced price increases across various products aiming to enhance profitability.
• Specific products see significant price hikes (e.g., 15% for UHMW-PE), indicating strong market demand.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- Celanese Corporation (NYSE: CE), a global specialty materials and chemical company, will increase prices for a range of products. These price increases will be effective on December 1, 2022, or as contracts otherwise allow. Additionally, individual grades may be subject to higher increases than specified below.

Base Resin	Brand / Material type	Price Increase
		$ / kg APAC	$ / kg| AMER	€ / kg EMEA
UHMW-PE*	GUR®	15%	15%	15%
LCP*	Vectra®, Zenite® and Thermx®	0.50	0.50	0.50
AEM	Vamac®	1.50	1.50	1.50
TPC	Hytrel®	-	0.50	0.70
PPA*	Zytel® HTN	0.30	-	-
*selected grades only

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 13,000 employees worldwide and had 2021 net sales of $8.5 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221118005209/en/

Investor Relations

Brandon Ayache

+1 972 443 8509

brandon.ayache@celanese.com

Media Relations – Global

Brian Bianco

+1 972 443 4400

media@celanese.com

Media Relations Europe (Germany)

Petra Czugler

+49 69 45009 1206

petra.czugler@celanese.com

Source: Celanese Corporation

FAQ

What is the effective date for Celanese's price increase?

The price increase will be effective on December 1, 2022.

What products are affected by Celanese's price increase?

Products affected include UHMW-PE, LCP, AEM, TPC, and PPA, among others.

How much will prices increase for UHMW-PE products?

Prices for UHMW-PE will increase by 15% across APAC, AMER, and EMEA.

What is the stock symbol for Celanese Corporation?

The stock symbol for Celanese Corporation is CE.

Why is Celanese implementing a price increase?

Celanese is implementing a price increase to enhance profitability in response to rising costs.