DALLAS & AMSTERDAM & SHANGHAI--(BUSINESS WIRE)--Celanese Corporation (NYSE: CE), a global specialty materials company, today announced price increases on its propylene-based (PP) long fiber thermoplastics (LFT), including Celstran®, and its polybutylene terephthalate (PBT) and polyethylene terephthalate (PET) compounded engineering plastics, including Celenex®, Vandar®, Impet®, Pibiter®, OmniTech® and Compel® due to continued increases in raw material costs globally as well as the United States Trade Representative’s (USTR) implementation of a 25 percent tariff on PBT and PET products imported into the U.S. from China. The price increases below will be effective for orders shipped on or after August 23, 2018, or as contracts otherwise allow.
| Product |
Americas
(USD/kg) |
Europe
(EUR/kg) |
China
(CNY/kg) |
Asia Outside China
(USD/kg) |
||||||||
| Propylene-based (PP) LFT grades | - | - | ￥1.00 | - | ||||||||
| Polyamide 66-based long-fiber thermoplastic grades (PA66-LFT) | - | - | ￥3.00 | - | ||||||||
| PBT and PET | +25% | €0.13 | - | $0.15 | ||||||||
Individual grades may be subject to a higher increase than specified above. Celanese is a leading supplier of engineered materials and the only supplier with global production facilities providing local supply to all regions of the world. Celanese continues to support its customers globally with a growing portfolio of products and functionalized grades. The company is committed to enhancing its product offerings and capabilities through ongoing investments in assets, technologies, and product and application expertise.
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.
