Celanese Chemicals Declares Force Majeure on Acetyl Products for Asian Customers
Celanese believes that the outage could depress third quarter EBITDA excluding special charges in the mid-teen euro million range, assuming SSPL starts up as notified. However, by year-end Celanese expects that a substantial portion of this amount can be recovered, principally through a captive insurance program and contractual recourse. As a result, this outage should not appreciably affect the company's full year EBITDA excluding special charges outlook.
"Celanese regrets that it must declare force majeure. We are making every effort to reduce the supply interruptions to our Asian customers with products from other acetyl plant sites in the U.S. and Europe", said John O'Dwyer, Vice President and General Manager of Acetyls.
Celanese Chemicals consists of the Acetyl Products and Chemical Intermediates segments of Celanese AG.
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