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Celanese Corporation
Type
Public company
Traded as NYSE: CE
Genre Chemicals and advanced materials
Predecessor Celanese AG
Founded New York City, New York, United States (1918 (1918))
Founder Camille Dreyfus
Headquarters Irving, Texas
Area served
Global
Key people
Mark C. Rohr, Chairman and Chief Executive Officer
Revenue $5.4 billion (2016)
Number of employees
7,300 (2016)
Website www.celanese.com

Celanese Corporation, also known as Hoechst Celanese, is a Fortune 500 global technology and specialty materials company with its headquarters in Irving, Texas, United States. The company is a leading producer of acetyl products, which are intermediate chemicals for nearly all major industries, and is the world's largest producer of vinyl acetate monomer (VAM).

Celanese's operations are primarily located in North America, Europe, and Asia. Its largest plant is in the Clear Lake area of Pasadena, Texas, United States the home to the world's largest acetic acid plant. In 2016, Celanese reported net sales of $5.4 billion.

In 1918, the American Cellulose & Chemical Manufacturing Company was founded in New York City by Camille Dreyfus.

The American Cellulose and Chemical Manufacturing Co. Ltd plant in Cumberland, Maryland was set up during World War I to produce cheaper fabric for airplane manufacturing. The plant location was chosen inland to protect against Zeppelin attacks. It was also situated in proximity to a ready source of water at the Potomac River and easy access to coal supplies and railroad lines. After a series of delays, actual production began in 1924 with a series of cellulose acetate commercial fabrics and yarns intended as alternatives to silk. The plant was closed in 1983, and was later torn down to provide a space for a new state prison.

In 1927, the American Cellulose & Chemical Manufacturing Company changed its name to Celanese Corporation of America. In 1986, its pharmaceutical business was spun off as Celgene, and, in 1987, Celanese Corporation was acquired by Hoechst and merged with its American subsidiary, American Hoechst, to form Hoechst Celanese Corporation.

In 1998, Hoechst combined most of its industrial chemical operations in a new company, Celanese AG, and, in 1999, Hoechst spun off Celanese AG as a publicly traded, German corporation, traded on both the Frankfurt and New York stock exchanges.

On 16 December 2003, the U.S. private equity firm Blackstone Group announced a takeover offer for Celanese, after two years of wooing management. Shareholders formally approved the offer from Blackstone on 16 June 2004, and Blackstone completed the acquisition of Celanese AG. The company was delisted from the New York Stock Exchange, and Blackstone changed the entity's name to Celanese Corporation. Under Blackstone, a number of streamlining initiatives were undertaken, and several acquisitions were made.

On 21 January 2005, Celanese Corporation conducted an initial public offering and became a publicly traded corporation traded on the New York Stock Exchange under the symbol "CE". When Blackstone sold the last of its shares in 2007, it had made five times what it had invested and it, and its co-investors collected a $2.9 billion profit.

Celanese has a process to make ethanol from natural gas.

In 1995 Hoechst Celanese was named along with Shell Oil as a defendant in a class action lawsuit for $7 billion in both past and potential future damages for which they were accused of being liable because of leaks in their polybutylene plumbing systems.

In January 2014 a class action lawsuit was filed on behalf of the residents of the community of Cannon's Campground and other residents of the area surrounding a former Hoechst Celanese industrial site in South Carolina. The lawsuit alleged the dumping of a number of toxic chemicals into local waters, which has diminished property values and caused a number of illnesses. Hoechst Celanese asked the courts to dismiss these charges as spurious, claiming that its discharges have not caused substantial harm to anyone or to the environment, and further asserting that a 3-year limit on tort claims has expired, relieving the company of any responsibility for damages which might be eventually discovered.

Acetyl intermediates is Celanese's largest segment, with a product range consisting of basic chemicals such as acetic acid, acetic anhydride, and vinyl acetate. Customers of Acetyl Intermediates and Industrial Specialties are in the chemical, paint and coatings, construction, and adhesive industries for polymerization.

Advanced engineered materials offers plastic polymers to customers in the automotive, electronics, telecommunications, and medical industries. Major products include: engineered plastics for fuel system components (provided by Ticona, the engineering polymer business of Celanese), conveyor belts, electronics, safety systems, emissions filtration, and fluid handling.

The food ingredients business Nutrinova produces the high intensity sweetener Sunett (acesulfame K), the preservatives Nutrinova potassium sorbate and sorbic acid, and other food ingredients. Major end-use markets include beverages, confections, baked goods, and dairy products.

Celanese is one of the world's largest producers of cellulose acetate. Acetate products are primarily used in cigarette filters, as well as in the production of fashion apparel and linings.

Industrial specialties using the feedstock from acetyl intermediates manufactures polymer and emulsions, such as polyvinyl acetate emulsions, and specialty chemicals as ethylene vinyl acetate. Major end-use markets include polyvinyl alcohol producers, paper, mortar and gypsum, textiles, paints, coatings, adhesives manufacturers.

TCX Technology is a hydrocarbon-based ethanol production process developed and marketed by Celanese and Launched in November 2010. Celanese researchers developed the TCX Technology to create a fuel that helps countries reduce their need to import oil and gas. Celanese plans to invest $700 million to build one-to-two plants in China and one in Texas that will produce TCX-based ethanol.

News

Celanese Corporation -0.79% (basic materials)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-01-28 Future report Set alerts
Q3 2020 2020-10-19 Future report Set alerts
Q2 2020 2020-07-28 1.30 0.93
Q1 2020 2020-04-27 2.29 1.88
Q4 2019 2020-01-30 1.99 0.35
Q3 2019 2019-10-21 2.53 2.17
Q2 2019 2019-07-22 2.38 1.67
Q1 2019 2019-04-22 2.62 2.64
Q4 2018 2019-01-28 2.38 0.73
Q3 2018 2018-10-18 2.96 3.00

Ratings

2016-07-12 Reiterated Rating Nomura Holdings Inc. Hold
2016-07-01 Initiated Coverage Susquehanna Positive $80.00
2016-06-16 Reiterated Rating Morgan Stanley Hold $65.00
2016-04-29 Upgrade Cowen and Company Market Perform to Outperform $66.00 to $80.00
2016-04-25 Downgrade Alembic Global Advisors Neutral to Underweight $60.00 to $64.00
2016-04-20 Boost Price Target RBC Capital Sector Perform $72.00 to $77.00
2016-04-20 Boost Price Target Royal Bank Of Canada Sector Perform $72.00 to $77.00
2016-04-19 Reiterated Rating Jefferies Group Buy $80.00
2016-04-18 Boost Price Target Citigroup Inc. Buy $73.00 to $79.00
2016-04-18 Reiterated Rating Morgan Stanley Hold
2016-04-12 Boost Price Target Goldman Sachs $65.00 to $67.00
2016-04-12 Boost Price Target Goldman Sachs Group Inc. $65.00 to $67.00
2016-03-24 Reiterated Rating Deutsche Bank Buy
2016-03-24 Reiterated Rating Deutsche Bank AG Buy
2016-02-16 Lower Price Target Jefferies Group $74.00
2016-01-25 Lower Price Target Barclays Overweight $80.00 to $76.00
2016-01-25 Lower Price Target Barclays PLC Overweight $80.00 to $76.00
2016-01-24 Reiterated Rating Jefferies Group Buy $80.00
2016-01-21 Lower Price Target Deutsche Bank Buy $80.00 to $75.00
2016-01-11 Upgrade SunTrust Neutral to Buy $80.00
2016-01-11 Upgrade SunTrust Banks Inc. Neutral to Buy $80.00
2016-01-05 Upgrade Citigroup Inc. Neutral to Buy
2015-11-16 Reiterated Rating Macquarie Outperform $75.00 to $80.00
2015-11-16 Reiterated Rating Deutsche Bank Buy $76.00 to $80.00
2015-11-16 Boost Price Target RBC Capital Sector Perform $69.00 to $72.00
2015-10-28 Boost Price Target Barclays Overweight $76.00 to $80.00
2015-10-26 Boost Price Target Cowen and Company Market Perform $64.00 to $72.00
2015-10-21 Reiterated Rating Macquarie Buy
2015-10-21 Lower Price Target Citigroup Inc. $70.00 to $64.00
2015-10-21 Boost Price Target RBC Capital Sector Perform $68.00 to $69.00
2015-10-20 Boost Price Target Macquarie Outperform $72.00 to $75.00
2015-10-13 Initiated Coverage RBC Capital Sector Perform $68.00
2015-10-12 Downgrade Goldman Sachs Buy to Neutral $77.00 to $71.00
2015-07-20 Boost Price Target Barclays Overweight $74.00 to $76.00
2015-04-21 Boost Price Target Citigroup Inc. Neutral $60.00 to $69.00
2015-04-20 Reiterated Rating JPMorgan Chase & Co. Hold $57.00 to $65.00
2015-04-20 Boost Price Target Deutsche Bank Buy $64.00 to $76.00
2015-01-27 Lower Price Target Nomura Neutral $63.00 to $62.00
2015-01-27 Lower Price Target Nomura Holdings Inc. Neutral $63.00 to $62.00
2015-01-26 Lower Price Target Barclays Overweight $74.00 to $72.00
2015-01-26 Reiterated Rating Citigroup Inc. Hold $65.00 to $60.00
2015-01-26 Set Price Target Credit Suisse Buy $73.00 to $70.00
2015-01-26 Set Price Target Credit Suisse Group AG Buy $73.00 to $70.00
2015-01-23 Lower Price Target Deutsche Bank Buy $72.00 to $65.00
2015-01-15 Lower Price Target Jefferies Group Buy $75.00 to $70.00
2015-01-13 Downgrade SunTrust Buy to Neutral
2014-12-18 Upgrade Gilford Securities Neutral to Buy
2014-12-16 Initiated Coverage Nomura Neutral $63.00
2014-10-21 Reiterated Rating Deutsche Bank Buy $72.00
2014-10-06 Reiterated Rating Citigroup Inc. Neutral $66.00 to $63.00
2014-07-21 Reiterated Rating JPMorgan Chase & Co. Neutral $58.00 to $60.00
2014-07-21 Reiterated Rating Bank of America Neutral $63.00 to $69.00
2014-07-21 Reiterated Rating Bank of America Corp. Neutral $63.00 to $69.00
2014-07-18 Reiterated Rating Deutsche Bank Buy $68.00 to $72.00
2014-07-09 Reiterated Rating Citigroup Inc. Neutral $63.00 to $66.00
2014-07-09 Reiterated Rating Jefferies Group Buy $72.00 to $75.00
2014-05-13 Reiterated Cowen Market Perform $52 to $64
2014-05-13 Boost Price Target Cowen and Company Market Perform $52.00 to $64.00
2014-04-24 Reiterated Rating Citigroup Inc. Hold $63.00
2014-04-23 Reiterated Rating SunTrust Buy $70.00
2014-04-23 Reiterated Rating JPMorgan Chase & Co. Neutral $58.00
2014-04-23 Reiterated Rating Credit Suisse Outperform $71.00
2014-04-22 Reiterated Rating Deutsche Bank Buy $60.00 to $68.00
2014-01-24 Reiterated Rating Deutsche Bank Buy $65.00 to $60.00
2013-10-23 Boost Price Target RBC Capital Outperform $55.00 to $63.00
2013-10-22 Boost Price Target Barclays Overweight $57.00 to $65.00
2013-10-22 Reiterated Rating Deutsche Bank Buy $65.00 to $60.00
2013-10-22 Boost Price Target Jefferies Group Buy $62.00 to $72.00
2013-10-09 Downgrade Gilford Securities Buy to Neutral
2013-09-25 Reiterated Rating Goldman Sachs Buy
2013-01-30 Reiterated Deutsche Bank Buy $45 to $55
2012-09-19 Initiated RBC Capital Mkts Outperform $55
2012-08-15 Downgrade Dahlman Rose Buy to Hold
2012-07-10 Upgrade UBS Neutral to Buy $49 to $49
2012-02-01 Reiterated Barclays Capital Overweight $49 to $57
2011-08-03 Reiterated UBS Neutral $48 to $52
2011-04-18 Downgrade UBS Buy to Neutral $45 to $48
2011-03-10 Reiterated Dahlman Rose Buy $42 to $50
2011-01-25 Initiated UBS Buy $45
2016-07-12 Reiterated Rating Nomura Holdings Inc. Hold
2016-07-01 Initiated Coverage Susquehanna Positive $80.00
2016-06-16 Reiterated Rating Morgan Stanley Hold $65.00
2016-04-29 Upgrade Cowen and Company Market Perform to Outperform $66.00 to $80.00
2016-04-25 Downgrade Alembic Global Advisors Neutral to Underweight $60.00 to $64.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
ROHR MARK C Chairman and CEO 0.29%  (455003) ASH / CE /
Townsend Jay SVP, Business Strategy Dev. 0.05%  (79998) CE /
MCGUINN MARTIN G 0.05%  (77677) CB / CE / IGTE /
Sutton Scott McDougald EVP & Pres, Materials Solution 0.05%  (69952) CE /
SANDERS DANIEL S 0.04%  (65533) CE /
Sterin Steven SVP & CFO 0.04%  (60049) CE / TLLP / TSO /
BARLETT JAMES E 0.04%  (54997) CE / TTEC /
Jensen Christopher W SVP, Finance 0.03%  (52924) CE /
Johnston Lori A SVP, Human Resources 0.03%  (52560) AMGN / CE /
Quarles Patrick D. EVP & President, Acetyl Chain 0.03%  (48745) CE / LYB /
MADDEN DOUG Chief Operating Officer 0.03%  (45784) CE / FWRD /
Hoffmeister David F 0.03%  (43167) CE / LIFE /
WALTERS FARAH M 0.03%  (38961) CE / POL /
WULFF JOHN K 0.02%  (29047) AAWW / CE / CHMT / MCO /
Nivica Gjon N Jr SVP, General Counsel and Sec. 0.02%  (28101) CE /
Oberle Mark SVP, Corporate Affairs 0.02%  (27400) CE /
Oliver Kevin S Chief Acctg Officer/Controller 0.01%  (19250) CE /
Wolf Jacquelyn H SVP, Human Resources 0.01%  (17208) CE / LYB / WLP /
Edwards Peter G EVP & GC 0.01%  (15834) CE / MNK /
ONEILL PAUL H 0.01%  (10739) CE / TRW /
Jurecka Shannon L SVP, HR (CHRO) 0.01%  (8854) CE /

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