Celanese Corporation announced a critical production network optimization step in support of the ?Grow & Fortify? strategy of its Engineered Materials business. Over the past several years, Celanese has taken significant measures to ensure reliability of supply by investing in compounding assets globally and by working to provide its customers with engineered materials products of superior quality, performance and reliability.
The network optimization announcement will result in the closure of the Company?s Engineered Materials compounding facility in Ulsan, South Korea. Celanese is planning to cease all manufacturing and production operations at the Ulsan facility immediately. The Company intends to fully support its customers to fulfill all contractual obligations and ensure a smooth transition of production and compounding activities to other Celanese manufacturing locations in the region.
The production volumes from the Ulsan facility will be transferred to the Company?s Nanjing and Shenzhen plants in China, and to its plant in Silvassa, India. Celanese is undertaking these actions to fortify the operating structure of its Engineered Materials business, while optimizing the company?s cost and manufacturing production footprint to leverage its compounding assets in Shenzhen, Nanjing and Silvassa. These actions are also expected to strengthen the Company?s regional supply chain network.
Celanese Corporation is a chemical and specialty materials company which is engaged in producing engineered polymers that are used in applications, as well as acetyl products, which are intermediate chemicals for all industries. The Company operates through two segments, which include Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces and supplies a portfolio of specialty polymers for automotive and medical applications, as well as industrial products and consumer electronics. Its Engineered Materials are used in a range of end-use products including fuel system components, automotive safety systems, medical applications, consumer electronics, appliances, industrial products, and others. The Acetyl Chain segment includes the integrated chain of acetic acid, vinyl acetate monomer (VAM), acetic anhydride, acetate esters, emulsion polymers, ethylene vinyl acetate (EVA) polymers, redispersible powders (RDP), and acetate tow businesses.
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