ADVERTISEMENT
2 /3 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Investment

Celanese delays acetic acid and methanol investments

by Craig Bettenhausen
May 2, 2020 | APPEARED IN VOLUME 98, ISSUE 17

 

Citing weakened demand and a need to free up cash in the face of COVID-19 disruptions, Celanese CEO Lori Ryerkerk has told investors that it will delay by 18 months its acetic acid and methanol expansion projects in Texas. Celanese will reduce overall capital expenditures in 2020 to less than $350 million from the planned $500 million. Ryerkerk said the firm expects earnings from its acetyl products and engineered materials businesses to be down 40% this year.

X

Article:

This article has been sent to the following recipient:

Leave A Comment

*Required to comment