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Celanese Corporation Lifts Force Majeure on Certain Western Hemisphere Acetyl Chain Products
Rhea-AI Impact
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Rhea-AI Summary
Celanese Corporation (NYSE: CE) has announced the lifting of the force majeure declared on May 11, 2022, for several Acetyl Chain products in the Western Hemisphere, including acetic acid and vinyl acetate monomer. However, the company is unable to lift the force majeure for its acetate tow products due to ongoing supply chain issues. Celanese continues to assess its supply and logistics challenges and will notify when normal supply resumes.
Positive
Lifting of force majeure for several Acetyl Chain products increases product availability.
Continued assessment of supply chain issues shows proactive management.
Negative
Inability to lift force majeure on acetate tow products indicates persistent supply chain disruptions.
DALLAS--(BUSINESS WIRE)--
Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today confirmed that is it lifting the force majeure declared on May 11, 2022, for the following Acetyl Chain products in the Western Hemisphere:
Acetic acid
Vinyl acetate monomer (VAM)
Ethyl acetate
Acetic anhydride
Vinyl and acrylic emulsions
Redispersible powders
Ethylene vinyl acetate polymers
Due to ongoing supply chain disruptions and an inability to reliably obtain certain necessary raw materials, Celanese is unable to lift the force majeure in connection with its acetate tow products. Celanese is continuing to assess our suppliers’ and logistics partners’ ongoing operational issues and will provide notice of when normal supply of these products will resume.
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.
What is the recent announcement by Celanese Corporation regarding force majeure on June 2023?
Celanese Corporation has confirmed the lifting of the force majeure declared on May 11, 2022, for various Acetyl Chain products, but not for acetate tow products due to ongoing supply issues.
Which products are affected by the lifting of force majeure at Celanese Corporation?
The products affected include acetic acid, vinyl acetate monomer, ethyl acetate, acetic anhydride, vinyl and acrylic emulsions, redispersible powders, and ethylene vinyl acetate polymers.
What does the inability to lift force majeure for acetate tow products mean for Celanese Corporation?
This indicates that Celanese is still facing significant supply chain disruptions that prevent the normal supply of acetate tow products.
When was the force majeure declared by Celanese Corporation?
The force majeure was declared on May 11, 2022.
What actions is Celanese Corporation taking regarding its supply chain issues?
Celanese is assessing suppliers' and logistics partners' operational issues and will notify when normal supply of acetate tow products will resume.
