Celanese Corporation Declares Force Majeure on Western Hemisphere Acetyl Chain and Acetate Tow Products

Rhea-AI Summary

Celanese Corporation (NYSE: CE) has declared a force majeure for its Acetyl Chain and Acetate Tow products due to unforeseen interruptions in raw material supply, particularly affecting the Texas Gulf Coast. Affected products include

• Acetic acid
• Vinyl acetate monomer (VAM)
• Ethyl acetate
• Acetic anhydride
• Vinyl and acrylic emulsions
• Redispersible powders
• Acetate tow

. The company is assessing the global impact but does not expect a material effect on its financial outlook for Q2 2022.

Positive

• No material impact anticipated on financial outlook for Q2 2022.

Negative

• Declaration of force majeure indicates supply chain disruptions.
• Unanticipated interruptions in raw material supply could affect production.

DALLAS--(BUSINESS WIRE)-- Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today confirmed a declaration of force majeure for the following Acetyl Chain and Acetate Tow products to its customers in the Western Hemisphere:

• Acetic acid
• Vinyl acetate monomer (VAM)
• Ethyl acetate
• Acetic anhydride
• Vinyl and acrylic emulsions
• Redispersible powders
• Acetate tow

The force majeure declaration comes as a result of unanticipated interruptions in raw material supply in the Texas Gulf Coast and the Company is continuing to assess the regional and global impact of these interruptions. Celanese cannot provide any specific details or timing of the full impact to customers. Celanese regrets the impact this will have on customers and will stay in close communication to minimize the impact of this event.

At this time, the Company does not anticipate a material impact from this force majeure declaration to its financial outlook for the second quarter of 2022.

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 8,500 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/20220511006103/en/

Investor Relations

Brandon Ayache

+1 972 443 8509

brandon.ayache@celanese.com

Media Relations – Global

W. Travis Jacobsen

+1 972 443 3750

william.jacobsen@celanese.com

Media Relations Europe (Germany)

Petra Czugler

+49 69 45009 1206

petra.czugler@celanese.com

Source: Celanese Corporation

FAQ

What products are affected by Celanese's force majeure declaration?

Celanese's force majeure declaration affects Acetic acid, Vinyl acetate monomer (VAM), Ethyl acetate, Acetic anhydride, Vinyl and acrylic emulsions, Redispersible powders, and Acetate tow.

What is the reason for the force majeure declared by Celanese?

The force majeure was declared due to unforeseen interruptions in raw material supply in the Texas Gulf Coast.

How will the force majeure affect Celanese's financial outlook?

Celanese does not anticipate any material impact from the force majeure declaration on its financial outlook for the second quarter of 2022.

When was the force majeure declared by Celanese?

Celanese confirmed the force majeure declaration in a press release dated May 11, 2022.

Is there any communication from Celanese regarding the impact of the force majeure?

Yes, Celanese has stated it will maintain close communication with customers to minimize the impact of the force majeure declaration.