DALLAS--(BUSINESS WIRE)--In May 2017, Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, learned that the European Commission had opened a competition law investigation involving certain subsidiaries of Celanese with respect to certain past ethylene purchases.
Based on information recently learned from the European Commission regarding its investigation, Celanese recorded a reserve of $88 million in the fourth quarter of 2019. Celanese is continuing to cooperate with the European Commission.
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 2018 net sales of $7.2 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.
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