Celanese Initiates Comprehensive Cost Assessment of Logistics Policies and Services for All Products
Jun. 08, 2018
DALLAS--(BUSINESS WIRE)--Jun 8, 2018--Celanese Corporation (NYSE:CE), a global specialty materials company, today announces that due to continued and projected escalating cost increases for logistics services, the company has begun a comprehensive assessment of all logistics policies for all products to ensure that processes and services are conducted in the most efficient and economical manner. Upon conclusion of this assessment, Celanese expects to issue a new framework with guidelines regarding shipments and services in order to best address the increasing costs for freight as well as limited availability of truck carrier capacity.
While this assessment is ongoing, Celanese today announces that, effective immediately, it will implement a price increase of $0.03/lb on all truck shipments of the following acetyl intermediate products being sent from or delivered to the U.S. or Canada, subject to any applicable contractual commitments:all grades of Formaldehyde and Paraformaldehyde all grades of MIBC and MIBK all grades of Ethylene Vinyl Acetate all grades of Emulsion Polymers
Implementing the above price increases is necessary at this time given the increasing costs and fees that Celanese has already begun to incur for freight and in order to secure truck carrier capacity to deliver shipments of the above products to customers in the U.S. and Canada. Celanese may also impose additional charges for rush orders or customer requests for changes to orders which are made 72 hours or less prior to the estimated shipment date.
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 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 2017 net sales of $6.1 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.
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. There can be no assurance that the company 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. 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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CONTACT: Celanese Corporation
Surabhi Varshney, +1-972-443-3078
Media Relations – Global
W. Travis Jacobsen, +1-972-443-3750
Media Relations Asia (Shanghai)
Helen Zhang, +86 21 3861 9279
Media Relations Europe (Germany)
Jens Kurth, +49(0)69 45009 1574
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Celanese Corporation
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PUB: 06/08/2018 06:00 PM/DISC: 06/08/2018 06:01 PM