Welcome to our dedicated page for Celanese Corporation news (Ticker: CE), a resource for investors and traders seeking the latest updates and insights on Celanese Corporation stock.
Celanese Corporation (symbol: CE) is a global leader in the production and innovation of chemical and specialty materials. Aimed at creating value for its customers, Celanese operates through various segments, including the Acetyl Chain and Materials Solutions. The company is renowned for being one of the largest producers of acetic acid and downstream derivatives, which play critical roles in industries such as chemicals, coatings, and adhesives.
Celanese also excels in the production of specialty polymers, widely utilized in sectors like automotive, electronics, medical, construction, and consumer goods. Additionally, the company produces cellulose derivatives used prominently in cigarette filters, further expanding its diverse product portfolio.
With a global production network and a commitment to innovation, Celanese partners with its clients to bring inspired ideas to life. Recent achievements include expansions in their acetyl chain capabilities and strategic partnerships to enhance their materials solutions offerings.
Financially, Celanese remains robust, continually investing in research and development to foster innovation and maintain a competitive edge. The company's operations are supported by a dedicated team of engineers, scientists, product developers, and problem solvers who strive to meet customer needs while contributing positively to the world.
Latest News:
- Celanese Corporation reports strong quarterly earnings.
- Expansion in the acetyl chain production facilities announced.
- New partnerships established to advance specialty polymer solutions.
Celanese Corporation has declared a force majeure for its Nanjing, China facility due to curtailed production of key Acetyl Chain products like Acetic Anhydride and Vinyl Acetate Monomer. This shutdown is in compliance with government energy consumption targets, impacting downstream products as well. Conversely, force majeure has been lifted for several products in the Western Hemisphere following extreme weather conditions. The company expects no material impact on its third quarter performance from these developments.
Celanese Corporation (NYSE: CE) has launched Hostaform® RF, a low-permeation acetal copolymer designed for use in small off-road engine and marine fuel tanks, as well as hydraulic reservoirs and industrial bulk containers. This innovative single-layer solution streamlines production and enhances efficiency, addressing U.S. EPA regulations for fuel permeation. Celanese, a leader in acetal copolymer supply for automotive fuel systems, will showcase Hostaform® RF at the Rotoplas 2021 conference in Chicago from September 20-23, with presentations scheduled on September 22 and 23.
Celanese Corporation (NYSE: CE) has successfully completed a registered offering of €500 million in 0.625% Senior Notes due 2028. This issuance is guaranteed by Celanese and its domestic subsidiaries. The proceeds will fund a tender offer to purchase up to €300 million of its 1.125% Senior Notes due 2023 and support general corporate purposes. This move aims to manage debt maturities and lower interest costs, reflecting the company's strengthened credit rating. The tender offer is being conducted under the terms specified in the Offer to Purchase dated August 25, 2021.
Celanese Corporation (NYSE: CE) announced early results of its cash tender offer to purchase up to €300 million of its 1.125% Senior Notes due 2023. As of September 8, 2021, holders validly tendered €412.9 million, with €300 million accepted due to proration. The total consideration for the accepted notes is €1,027.35 per €1,000 principal. The Tender Offer will expire on September 22, 2021, unless extended. The company anticipates completing the offer upon satisfaction of financing conditions linked to a new €500 million offering of 0.625% Senior Notes due 2028.
Celanese Corporation (NYSE: CE) has launched a cash tender offer to purchase up to €300 million of its 1.125% Senior Notes due 2023, with an expiration date of September 22, 2021. The early tender deadline is set for September 8, 2021, with an early tender premium of €30.00 per €1,000 principal amount. The offer aims to manage Celanese's debt profile and extend the maturity of its obligations. All holders of accepted notes will receive accrued interest. This strategic move may also be financed through the issuance of new notes, contingent on market conditions.
Celanese Corporation (NYSE: CE) has completed a registered offering of $400 million in 1.400% Senior Notes due 2026. With a net borrowing rate of 1.421%, the proceeds will be used to repay existing debt under its revolving credit facility.
All $400 million outstanding was previously used to pay off 5.875% senior notes at maturity. CFO Scott Richardson highlighted that this transaction will extend the debt maturity profile and lower interest expenses, backed by a strengthened credit rating and outlook.
Celanese Corporation (NYSE: CE) reported strong second quarter results with GAAP diluted earnings per share of $4.81 and record adjusted earnings per share of $5.02. The company achieved net sales of $2.2 billion, driven by an 18% increase in pricing and a 4% volume rise. Consolidated operating profit reached $567 million, with adjusted EBIT of $691 million. The acquisition of Santoprene™ is anticipated to enhance future earnings. Shareholder returns included $326 million in buybacks and dividends.
Celanese Corporation (NYSE: CE) announced the expansion of its Florence, Kentucky R&D center with a new Pharmaceutical Drug Delivery Feasibility Lab. This expansion aims to enhance development for long-acting controlled release drug delivery, showcasing Celanese's commitment to its Pharmaceutical segment. The lab will provide services such as material characterization and prototyping capabilities, facilitating quicker project advancements for pharmaceutical companies. With over 40 years in the medical market, Celanese aims to innovate drug delivery solutions and improve patient health outcomes.
Celanese Corporation (NYSE:CE) has approved a new $1.0 billion share repurchase authorization, representing approximately 6 percent of the company’s outstanding shares. In the first half of 2021, Celanese utilized $500 million to buy back shares from a previous $1.5 billion authorization. As of June 30, 2021, $560 million remained under that authorization. The addition of this new buyback program supports ongoing shareholder value enhancement.
Celanese Corporation (NYSE: CE) has declared a quarterly cash dividend of $0.68 per share, payable on August 9, 2021. Stockholders of record as of July 26, 2021 will receive the dividend. Celanese is a leading global chemical company with approximately 7,700 employees and reported $5.7 billion in net sales for 2020. The company focuses on differentiated chemistry solutions across various industries and aims to create shareholder value while positively impacting communities through The Celanese Foundation.
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