Celanese Corporation (NYSE: CE), a global technology and specialty
materials company, announced it has completed construction of its Clear
Lake, Texas methanol unit and is now operating at full rates. This
methanol unit is a joint venture between Celanese and Mitsui & Co.,
Ltd., of Tokyo, Japan and has annual capacity of 1.3 million metric tons.
“Everyone at Celanese is incredibly proud of this accomplishment. This
investment provides us with supply certainty for a critical raw material
and allows the Acetyl Chain to gain the economic benefit of abundant
low-cost U.S. natural gas,” said Mark Rohr, chairman and chief executive
officer, Celanese Corporation. “By leveraging our existing
infrastructure and executing a very aggressive project plan, we were
able to complete the methanol unit in 19 months and have it fully
operational in 21 months with a capital cost of less than $700 per ton.
Congratulations to the team for completing the most efficient and
economical greenfield methanol plant in recent industry history.”
About Celanese
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. With sales almost
equally divided between North America, Europe and Asia, the company uses
the full breadth of its global chemistry, technology and business
expertise to create value for customers and the corporation. Celanese
partners with customers to solve their most critical needs while making
a positive impact on its communities and the world. Based in Dallas,
Texas, Celanese employs approximately 7,500 employees worldwide and had
2014 net sales of $6.8 billion. For more information about Celanese
Corporation and its 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.
Forward-Looking Statements
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 “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. There can be no assurance that the
company will realize these expectations or that these beliefs 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. 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. These risks
and uncertainties include, among other things: changes in general
economic, business, political and regulatory conditions in the countries
or regions in which we operate; changes in the price and availability of
raw materials, particularly changes in the demand for, supply of, and
market prices of methanol, natural gas and fuel oil and the prices for
electricity and other energy sources; the ability to pass increases in
raw material prices on to customers or otherwise improve margins through
price increases; the ability to maintain plant utilization rates and to
implement planned capacity additions and expansions; the ability to
reduce or maintain their current levels of production costs and to
improve productivity by implementing technological improvements to
existing plants; the theft of our intellectual property; compliance and
other costs and potential disruption or interruption of production or
operations due to accidents, interruptions in sources of raw materials,
cyber security incidents, terrorism or political unrest or other
unforeseen events or delays in construction or operation of facilities,
including as a result of geopolitical conditions, the occurrence of acts
of war or terrorist incidents or as a result of weather or natural
disasters; potential liability resulting from pending or future
litigation, or from changes in the laws, regulations or policies of
governments or other governmental activities in the countries in which
we operate; and various other factors discussed from time to time 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151015006830/en/
Copyright Business Wire 2015
Source: Business Wire
(October 15, 2015 - 6:30 PM EDT)
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