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Celanese Corporation (NYSE: CE), a global technology and specialty materials company, today announced that as a result of the impacts of extreme winter weather on Celanese’s operations, as well the unplanned shutdowns and force majeure declarations of many of its suppliers and service providers in the Texas Gulf Coast, Celanese is declaring force majeure with respect to the following products to its customers in the Americas and EMEA:
Vinyl Acetate Monomer (VAM)
Vinyl and Acrylic Emulsions
Ethylene Vinyl Acetate (EVA)
Dimethylamine (DMA) and Trimethylamine (TMA)
Methyl Isobutyl Carbinol (MIBC) and Methyl Isobutyl Ketone (MIBK)
Sustained below freezing temperatures at Celanese’s operating sites and those of its suppliers and logistics partners have resulted in the inability of Celanese sites to receive natural gas, electricity, industrial gas, potable and firefighting water and other raw materials necessary to safely and reliably operate the plants. Without access to such utilities, Celanese has been forced to shut down its impacted production facilities until they can be operated safely and consistently. As a result of these shutdowns, Celanese is forced to curtail its western hemisphere production of the above products and declare Force Majeure under its sales contracts.
Pursuant to the terms of applicable sales contracts, Celanese is excused from performance during the term of this Force Majeure event. Celanese is continuing to assess the regional and global impact of this force majeure event, and given that this is a rapidly developing situation, Celanese cannot provide any specific details or timing of the full impact to all customers. Account managers will communicate with customers to discuss allocation volumes as soon as possible.
Celanese will provide notice of when production will resume as we continue to assess the effect of the weather on our production facilities and infrastructure, as well as those of our suppliers and logistics providers.
Celanese regrets the impact this will have on customers and will stay in close communication to minimize the impact of this event.
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our two complementary business cores, Acetyl Chain and Materials Solutions, use the full breadth of Celanese’s global chemistry, technology and business expertise to create value for our customers 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 and our product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.
All registered trademarks are owned by Celanese International Corporation or its affiliates.
This release may contain "forward-looking statements," which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures and other information that is not historical information. When used in this release, the words "outlook," "forecast," "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions, including the announced acquisition. There can be no assurance that the company or its customers will realize these benefits or that these expectations will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release, including with respect to the acquisition. Numerous factors, many of which are beyond the company’s control, could cause actual results to differ materially from those expressed as forward-looking statements. Other risk factors include those that are discussed in the company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.
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