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Celanese Announces Closure of Its Acetate Tow Manufacturing Unit in Ocotlán, Mexico

June 6, 2018

DALLAS & OCOTLÁN, MEXICO--(BUSINESS WIRE)--Jun 6, 2018--Celanese Corporation (NYSE:CE), a global specialty materials company, recently announced a consolidation of its global acetate manufacturing operations by initiating the closure of its acetate tow manufacturing unit in Ocotlán, Jalisco, Mexico. The consolidation is designed to strengthen the company’s competitive position, reduce fixed costs and align future production capacities with anticipated industry demand.

Marcel van Amerongen, Vice President of Celanese’s Cellulose Derivatives business, said: “As Celanese has discussed over the last many months, the global business environment for acetate tow products is challenging. Global demand for acetate tow is declining, and for the foreseeable future we are not projecting improvements in this business environment. The acetate tow business is an important one for Celanese and we are taking the strategic steps needed to ensure success in the future.”

The company will continue to serve its acetate tow customers by optimizing its global production network, which includes wholly owned facilities in Lanaken, Belgium, and Narrows, Virginia, USA, as well as the company’s acetate tow joint venture facilities in China. Celanese expects to operate its acetate tow unit in Ocotlán through the fourth quarter of 2018 to ensure a smooth closure process.

Key products manufactured at the Ocotlán plant include cellulose acetate flake and filter tow. The plant’s nameplate capacity is approximately 20,000 tons of acetate tow and 52,000 tons of acetate flake. The acetate flake operation, which employs more than 200 employees at the Ocotlán site, remains unaffected by these actions.

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. 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.

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 “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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180606005062/en/

CONTACT: Celanese Corporation

Investor Relations

Surabhi Varshney, +1-972-443-3078

surabhi.varshney@celanese.com

or

Media Relations – Global

W. Travis Jacobsen, +1-972-443-3750

william.jacobsen@celanese.com

or

Media Relations Asia (Shanghai)

Helen Zhang, +86 21 3861 9279

lan.zhang@celanese.com

or

Media Relations Europe (Germany)

Jens Kurth, +49(0)69 45009 1574

j.kurth@celanese.com

KEYWORD: UNITED STATES MEXICO NORTH AMERICA CENTRAL AMERICA TEXAS

INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS

SOURCE: Celanese Corporation

Copyright Business Wire 2018.

PUB: 06/06/2018 08:00 AM/DISC: 06/06/2018 08:01 AM

http://www.businesswire.com/news/home/20180606005062/en

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