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 (NYSE: CE) has announced a partnership with Glaukos Corporation to supply its VitalDose® Drug Delivery Platform for the iDose® TR intraocular implant. This device aims to lower intraocular pressure in patients with glaucoma by providing continuous, long-duration therapy, addressing issues of patient non-adherence to topical medications. Glaukos submitted a New Drug Application for iDose TR in February 2023, pending FDA approval. The collaboration is aimed at enhancing patient treatment options in ophthalmology, leveraging the proven performance of Celanese's VitalDose technology, which has a solid history of controlled-release applications.
Celanese Corporation (NYSE: CE) has announced a collaboration with Alessa Therapeutics to develop a new oncology drug using Alessa's sustained localized drug delivery technology. The partnership aims to enhance treatment for oncology patients by reducing systemic side effects.
According to Alessa's Vice President, the collaboration has facilitated the rapid development of their drug candidate, with plans to advance to human studies later this year. Celanese emphasized its commitment to improving therapeutic outcomes through innovative drug delivery solutions.
Celanese Corporation (NYSE: CE), a leader in specialty materials, announced price hikes for Hytrel® TPC resins, set to take effect on March 15, 2023. The increases include 0.45 EUR/kg in the EMEA region and 0.5 USD/kg in both Asia Pacific and the Americas. Individual grades may experience greater hikes as per contract terms. Celanese, headquartered in Dallas, reported $9.7 billion in net sales for 2022 and employs around 13,000 people globally.
Celanese Corporation (NYSE: CE) reported record GAAP diluted EPS of $17.41 and adjusted EPS of $15.88 for 2022, achieving net sales of $9.7 billion, up 13% from 2021. Despite significant raw material and energy cost inflation of over $1.2 billion, the company offset these pressures through pricing increases. The acquisition of DuPont's Mobility & Materials business significantly contributed to Celanese's performance. In Q4 2022, GAAP diluted EPS was $7.03, with adjusted EPS of $1.44, reflecting challenges from destocking and demand fluctuations, particularly in Asia. The company anticipates improved earnings in Q1 2023, projecting adjusted EPS between $1.50 to $1.75.
Celanese Corporation (NYSE: CE) announced a strategic partnership expansion with Mitsui & Co., Ltd., including a new Food Ingredients joint venture (JV) and an extension of the Fairway Methanol LLC JV. Celanese will contribute its Food Ingredients business to the JV, retaining a 30% stake, while Mitsui will own 70%. The Food Ingredients segment generated $170 million in 2022 net sales and $45-$50 million in EBITDA. The Fairway Methanol JV will now operate through 2045 and is set for an expansion to 1.62 million metric tons, utilizing recycled CO2 in production. The expected closure for these transactions is Q3 2023, with proceeds aimed at debt reduction.
Celanese Corporation (NYSE: CE) announced the successful completion of an ultra-low capital project to boost ethylene vinyl acetate (EVA) capacity at its Edmonton, Alberta facility. This expansion will provide a 35% increase in EVA capacity starting Q1 2023, contributing approximately $10 million per year in additional operating EBITDA. The demand for EVA, particularly in solar applications, is projected to grow at a double-digit compounded annual rate through 2028. This strategic move strengthens Celanese's position in the acetyls market, enhancing its capability to meet rising demand across various high-value applications.
Celanese Corporation (NYSE: CE) has announced a collaboration with Johns Hopkins University Department of Ophthalmology to study sustained drug delivery to the eye's suprachoroidal space. This approach aims to reduce the frequency of ocular injections for retinal disorders. Utilizing the VitalDose® Drug Delivery Platform, the bioinert implant promises over six months of continuous therapeutic delivery, enhancing patient compliance. The Celanese Development & Feasibility Lab will conduct parts of the research, supporting the development of long-acting drug delivery systems.
Celanese remains committed to improving healthcare solutions in ophthalmology and other fields.
Celanese Corporation (NYSE: CE) declared a quarterly cash dividend of $0.70 per share on common stock, set to be paid on March 7, 2023. Stockholders of record as of February 21, 2023 will receive this dividend. Celanese is a global leader in specialty materials and chemicals, leveraging advanced chemistry and technology to serve various industries. In 2021, the company reported net sales of $8.5 billion and employs approximately 13,000 personnel globally. For further details on Celanese's operations and product offerings, visit www.celanese.com.
Celanese Corporation (NYSE: CE) has launched a new range of sustainable Acetyl Chain materials known as ECO-B, which feature mass balance bio-content. This initiative aims to support customers in reducing CO2 emissions and achieving sustainability goals. ECO-B products, including Emulsion Polymers and EVA Polymers, provide a chemical identity identical to standard offerings while promoting renewable content. The new products aim to help industries like building and construction, adhesives, and packaging. Sustainable content in ECO-B products can range from 10% to 100%, depending on specific items.
Celanese Corporation (NYSE: CE) will host a conference call on February 24, 2023, to discuss its fourth quarter 2022 results. The call is delayed due to the ongoing integration of the Mobility & Materials acquisition. Investors can access the call via webcast or by phone. The earnings press release will be distributed on February 23, 2023, post-market close. A replay will be accessible from 12:00 p.m. Eastern time on February 24 until March 10, 2023.
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