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Celanese Completes EVA Capacity Expansion at Acetyl Chain Facility in Edmonton
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Celanese Corporation (NYSE: CE) announced the successful completion of an ultra-low capital project to boost ethylene vinyl acetate (EVA) capacity at its Edmonton, Alberta facility. This expansion will provide a 35% increase in EVA capacity starting Q1 2023, contributing approximately $10 million per year in additional operating EBITDA. The demand for EVA, particularly in solar applications, is projected to grow at a double-digit compounded annual rate through 2028. This strategic move strengthens Celanese's position in the acetyls market, enhancing its capability to meet rising demand across various high-value applications.
Positive
35% increase in EVA capacity starting Q1 2023.
Estimated additional operating EBITDA of $10 million annually.
EVA demand in solar applications projected to grow at a double-digit CAGR through 2028.
Negative
None.
DALLAS--(BUSINESS WIRE)--
Celanese Corporation (NYSE: CE), a global specialty materials and chemical company, announced today the completion of an ultra-low capital project to repurpose existing manufacturing and infrastructure assets to unlock additional ethylene vinyl acetate (EVA) capacity at its Edmonton, Alberta facility. The expansion supports significant growth in the Acetyl Chain’s downstream vinyls portfolio.
“The rapidly increasing demand for sustainable energy sources throughout the world, such as solar and wind power, continues to play an important role in global demand growth for EVA,” said Richard Jacobs, senior director, EVA polymers. “Demand for EVA in solar applications is anticipated to grow at a double-digit compounded annual rate through 2028, making the EVA industry one of the fastest growing products in our Acetyl Chain portfolio.”
The expansion provides approximately 35 percent incremental EVA capacity starting in the first quarter of 2023. The project is expected to deliver approximately $10 million per year in additional operating EBITDA across the integrated acetyl value chain with the earnings contributions ramping across the second quarter.
The Acetyl Chain’s reactor capabilities and unique footprint allow for a more customized approach to product manufacturing with the flexibility to produce a full range of EVA products to serve demand in growing solar applications, wire and cables, food packaging, medical devices and drug delivery solutions. Celanese EVA products are sold under the product names including Ateva® EVA and Ateva G Medical Grade®.
“We continue to strengthen Celanese as an industry leader in the acetyls and derivatives space,” said Mark Murray, senior vice president, Acetyl Chain. “This EVA expansion enhances our downstream optionality to capture growth in high-value applications and to deliver on our commitment to be a preferred partner of our customers.”
About Celanese
Celanese is the preeminent global leader in chemistry, producing specialty material solutions used across most major industries and consumer applications. Our businesses use our chemistry, technology and commercial expertise to create value for customers, employees, shareholders and the corporation. We are committed to sustainability by responsibly managing the materials we create for their entire lifecycle. We make a positive impact in our communities through the Celanese Foundation and prioritize diversity, equity and inclusion across our teams. Celanese is a Fortune 500 company that employs approximately 13,000 employees worldwide with 2021 net sales of $8.5 billion. For more information, visit www.celanese.com.
