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 (NYSE: CE) will host a conference call on January 29, 2021, at 10:00 a.m. Eastern Time to discuss its fourth quarter 2020 results. The earnings press release will be distributed post-market on January 28. Interested parties can join via a webcast or phone with a registration link provided. A replay of the call will be available from January 29 through February 12. Celanese reported net sales of $6.3 billion in 2019 and employs approximately 7,700 people globally.
Celanese Corporation (NYSE: CE) and Mitsubishi Gas Chemical Company announced a memorandum of understanding (MOU) to restructure their joint venture, Korea Engineering Plastics Co. (KEP). This initiative aims to modernize KEP, focusing on manufacturing and supplying high-quality products to its shareholders. The restructuring, anticipated to complete by the end of 2021, will enhance KEP's production capacity and address the evolving global market for polyoxymethylene (POM), a widely used engineered material. The companies are committed to ensuring a reliable supply of products throughout the transition.
Celanese Corporation (NYSE: CE) announced its subsidiary, Celanese (Nanjing) Chemical Co. Ltd., has extended a long-term terminal services contract with Nanjing Dragon Crown Liquid Chemical Terminal Co. Ltd. for its Nanjing facility. This renewal ensures reliable services for its acetyls chemical products, which are crucial for the company's supply chain efficiency. Although financial details were not disclosed, the partnership demonstrates a decade-long collaboration that strengthens their business relationship.
Celanese Corporation (NYSE: CE) reported third-quarter 2020 earnings with GAAP diluted EPS of $1.76 and adjusted EPS of $1.95, reflecting a robust net sales of $1.4 billion, a 20% volume recovery sequentially. Operating profit improved to $184 million, with adjusted EBIT at $290 million. The completion of the Polyplastics joint venture sale generated $1.6 billion, enhancing investment capabilities. Strong cash flow was evident with $431 million in operating cash flow and $351 million in free cash flow. The company forecasts full-year adjusted EPS between $7.00 and $7.10.
Celanese Corporation (NYSE: CE) announced the launch of a new production line for GUR® ultra-high molecular weight polyethylene (UHMW-PE) at its facility in Bishop, Texas. This expansion aims to meet the rising demand for GUR® materials, particularly for lithium-ion battery separators, driven by a projected compound annual growth rate of over 25% in electric vehicle demand through 2025. The new line is expected to increase GUR® capacity by 15kt per year starting in 2022. Celanese remains the only global producer of UHMW-PE across Asia, North America, and Europe.
Celanese Corporation (NYSE: CE) has announced a global price increase of up to 10% on its engineered materials product portfolio, effective November 1, 2020. This decision is driven by a notable demand surge for the company's specialty polymer products. As a prominent supplier with extensive global production capabilities, Celanese aims to enhance its offerings through continuous investments in technology and product expertise. The company reported net sales of $6.3 billion in 2019 and employs approximately 7,700 staff worldwide.
Celanese Corporation (NYSE: CE) has appointed Deborah J. Kissire to its Board of Directors, effective immediately. A retired partner from Ernst & Young LLP, Kissire brings over 35 years of financial expertise. Her experience includes leadership roles in strategic planning and governance. The Board anticipates leveraging her insights on cybersecurity, tax, and M&A to enhance long-term growth and expansion. Kissire will join the Audit Committee and the Environmental, Health, Safety, Quality and Public Policy Committee, strengthening the Board's capabilities.
Celanese Corporation (NYSE:CE) has announced a quarterly cash dividend of $0.62 per share on its common stock, payable on November 10, 2020. This dividend will be distributed to shareholders recorded as of October 27, 2020. With a focus on differentiated chemistry solutions and specialty materials, Celanese aims to provide value across various industries. The company reported $6.3 billion in net sales for 2019 and employs approximately 7,700 individuals worldwide.
Celanese Corporation (NYSE: CE) has completed the sale of its 45% stake in the Polyplastics joint venture to Daicel Corporation for $1.575 billion. This strategic move monetizes a passive investment, allowing Celanese to reinvest in higher-value opportunities, including increased share repurchases and organic growth initiatives. The company aims to boost its Engineered Materials business independently, focusing on market segments such as 5G and advanced mobility. This marks a significant shift in strategy as Celanese plans to enhance its manufacturing and R&D capabilities in Asia.
Celanese Corporation (NYSE:CE) has announced a price increase of up to 5 percent on all acetate tow product grades, effective January 1, 2021, or as per contracts. This decision aims to secure the sustainability of the acetate tow business amid declining prices. The Vice President of Acetate Tow emphasized the company's commitment to investing in manufacturing assets and innovation to become the strategic partner of choice for customers. Celanese continues to focus on creating value across its global operations.
FAQ
What is the current stock price of Celanese Corporation (CE)?
What is the market cap of Celanese Corporation (CE)?
What does Celanese Corporation do?
What are the primary markets for Celanese's products?
Where is Celanese Corporation based?
What are some recent achievements of Celanese?
How does Celanese contribute to innovation?
What makes Celanese a leader in its industry?
What are cellulose derivatives used for?
What is the significance of Celanese's acetic acid production?
Who are the key personnel at Celanese?
How does Celanese ensure financial stability?
