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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Celanese Announces Price Increase for Acetate Tow

October 4, 2021 GMT

DALLAS, AMSTERDAM & SHANGHAI--(BUSINESS WIRE)--Oct 4, 2021--

Celanese Corporation (NYSE:CE), a global chemical and specialty materials company, today announced it will raise prices of all acetate tow product grades sold globally by $ 0.40/kg or € 0.34/kg. This price increase will be effective for orders shipped on or after October 18, 2021, or as contracts otherwise allow.

“Over the past 18 months, the entire industry has been confronted with a great number of challenges which structurally impact all producers. New regulatory and legislative restrictions have increased the complexity of manufacturing and portfolio requirements, leading to high utilization rates; logistics complexities including equipment and operator availability have added cost and lead-time uncertainties; and major production costs have risen sharply in response to sector demand, conversions and availability,” said Harald Bruggeman, Vice President Commercial, Acetate Tow, for Celanese. “In order to continue to provide the supply chain security that our acetate tow customers value, it is necessary to increase prices to overcome the impact of these structural changes. Celanese’s commitment to the acetate tow business ensures that we will continue to invest in the necessary assets, innovation and effective services that our valued customers rely upon.”

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Customers are encouraged to contact their account manager for additional information.

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 7,700 employees worldwide and had 2020 net sales of $5.7 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211004005716/en/

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CONTACT: Celanese Contacts:

Investor Relations

Brandon Ayache

+1 972 443 8509

brandon.ayache@celanese.comMedia Relations - Global

W. Travis Jacobsen

+1 972 443 3750

william.jacobsen@celanese.comMedia Relations - Europe

Petra Czugler

+49 174 762 8784

petra.czugler@celanese.com

KEYWORD: TEXAS CHINA UNITED STATES NORTH AMERICA ASIA PACIFIC EUROPE NETHERLANDS

INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING

SOURCE: Celanese Corporation

Copyright Business Wire 2021.

PUB: 10/04/2021 06:00 PM/DISC: 10/04/2021 06:02 PM

http://www.businesswire.com/news/home/20211004005716/en