Growth dynamics from EV sector create momentum in Europe for UHMW-PE production
DALLAS & AMSTERDAM–(BUSINESS WIRE)–$CE–Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announces its intent to expand its GUR® ultra-high molecular weight polyethylene (UHMW-PE) production capacity in Europe.
In addition to the recently announced Bishop, Texas, GUR® expansion of approximately 15KT per year coming online beginning in 2022, Celanese intends to invest in additional capacity for GUR® in Europe. The expansion in Europe is expected to be online beginning in 2024 with an annual nameplate capacity of approximately 34KT. Site selection for this new European facility is underway, and Celanese is considering both existing and greenfield locations for a GUR® production unit.
The addition of a new UHMW-PE production facility in Europe will support the significant growth in the company’s high-value GUR® engineered materials portfolio. With this investment, Celanese will be able to support the double-digit growth for LIBS (Lithium Ion Battery Separators) in the electric vehicle (EV) market. The new facility will also have the option to produce medical grade GUR®.
“EV demand is expected to have a compounded annual growth rate of greater than 25 percent through 2025, resulting in strong demand for Celanese GUR® for LIBS,” said Tom Kelly, Celanese Senior Vice President, Engineered Materials. “We see separator manufacturers and battery producers investing in the European region and looking for local supply. European demand in that sector for UHMWE-PE is forecasted to outperform demand in Asia, and Celanese is well positioned as the world’s premier GUR® manufacturer to support this demand requirement.”
Customers look to Celanese for a reliable supply of GUR® that meets very stringent quality standards, and the recently announced capacity expansions at the company’s Bishop, Texas integrated chemical complex will enable Celanese to continue to support a growing and diverse customer base and respond to the increasing need for specialty materials such as UHMW-PE. Furthermore, the expansion of GUR® capacity completed in June of 2019 at the company’s Nanjing, China, integrated chemical complex, continues to position Celanese as the only truly global producer of UHMWE-PE, giving Celanese the unique ability to work closely with its customers in all regions of the world.
Financial details of this GUR® expansion are not being disclosed at this time. Additional project details will be announced as further developments are available.
About Celanese
Celanese Corporation is a global chemical 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 2020 net sales of $5.7 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com.
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 or its customers 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 other 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.
Contacts
Celanese Contacts:
Investor Relations
Brandon Ayache
+1 972 443 8509
brandon.ayache@celanese.com
Media Relations – Global
W. Travis Jacobsen
+1 972 443 3750
william.jacobsen@celanese.com
Media Relations Europe (Germany)
Petra Czugler
+49 69 45009 1206
petra.czugler@celanese.com
