Celanese Corporation - CE STOCK NEWS

Celanese Corporation (NYSE: CE) has successfully acquired the Santoprene™ TPV elastomers business from Exxon Mobil Corporation for $1.15 billion. This strategic acquisition enhances Celanese's engineered materials portfolio, adding renowned trademarks such as Santoprene™ and expanding production capacity with two world-scale facilities in Florida and Wales. The deal includes customer contracts and a comprehensive intellectual property portfolio, bolstering Celanese's position in targeted growth areas and promising significant shareholder value.

Celanese Corporation (NYSE: CE) has announced a collaboration with Mitsubishi Chemical Advanced Materials (MCAM) to develop mechanical recycling solutions for polyoxymethylene (POM). This initiative aims to create a new product called POM ECO-R, derived from both post-industrial and post-consumer sources, offering up to 30% recycled content. The partnership addresses customer demands for sustainable materials while ensuring product quality. Celanese's existing product, POM ECO-B, is bio-based but distinct from the recycled POM ECO-R.

Celanese Corporation (NYSE: CE) has been recognized by The Women’s Forum of New York for achieving 55% female representation on its board of directors. This honor was part of the sixth biennial "Breakfast of Corporate Champions Event," which acknowledged 43 companies from the S&P 500 and Fortune 1000 for similar achievements in gender diversity. CEO Lori Ryerkerk emphasized the importance of diversity in leadership for driving change and business success.

Celanese Corporation (NYSE: CE) reported strong Q3 2021 results, with GAAP diluted EPS of $4.67 and adjusted EPS of $4.82. The company achieved record net sales of $2.3 billion, driven by a 3% increase in pricing and 1% in volume. Net earnings were $506 million, while adjusted EBIT reached $648 million. Despite facing over $100 million in sequential cost inflation and sourcing issues, Celanese is optimistic about future growth, projecting Q4 adjusted earnings of approximately $5.00 per share and at least $15.00 per share for 2022. Significant cash generation allowed for $376 million returned to shareholders.

Celanese Corporation (NYSE: CE) announced a quarterly cash dividend of $0.68 per share on common stock, scheduled for payment on November 15, 2021. Stockholders of record as of November 1, 2021 will be eligible for this dividend. Celanese, a leader in chemical and specialty materials, reported $5.7 billion in net sales for 2020 and employs approximately 7,700 individuals worldwide.

Celanese Corporation (NYSE:CE) announced a global surcharge on its POM products, including Amcel®, Celcon®, and Hostaform®, due to surging global energy prices. The surcharge will take effect from October 25, 2021, with rates set at €0.50/kg in Europe, $0.35/kg in Asia, and $0.30/kg in the Americas. Vice President Juergen Pongratz emphasized the need to share the burden of rising costs with customers, stating that the current energy market instability could persist through winter while the company will monitor conditions regularly.

Celanese Corporation (NYSE:CE) announced a price increase of $0.40/kg or €0.34/kg for all acetate tow product grades effective from October 18, 2021. The increase responds to challenges such as heightened regulatory restrictions, logistics complexities, and rising production costs. According to Harald Bruggeman, Vice President Commercial, this adjustment is crucial to maintaining supply chain security and supporting ongoing investments in the acetate tow business.

Celanese Corporation (NYSE: CE) will host a conference call on October 22, 2021, at 11:00 a.m. Eastern time, to discuss its third quarter 2021 results. The earnings press release will be distributed on October 21 after the market closes. Investors can access the conference call via phone or webcast through the company's investor relations website. A replay will be available starting October 22 until November 5. Celanese is a global leader in chemical and specialty materials with $5.7 billion in net sales for 2020.