Celanese
Company type | Public |
---|---|
ISIN | US1508701034 |
Industry | Chemicals and advanced materials |
Predecessor | Celanese AG |
Founded | 1918New York City | in
Founder | Camille Dreyfus |
Headquarters | , U.S. |
Area served | Global |
Key people | |
Revenue | US$10.9 billion (2023) |
US$1.69 billion (2023) | |
US$1.96 billion (2023) | |
Total assets | US$26.6 billion (2023) |
Total equity | US$7.09 billion (2023) |
Number of employees | 12,410 (2023) |
Website | celanese |
Footnotes / references [1][2] |
Celanese Corporation, formerly known as Hoechst Celanese, is an American technology and specialty materials company headquartered in
Celanese operates 25 production plants and six research centers in 11 countries, mainly in North America, Europe, and Asia. The company owns and operates the world's three largest acetic acid plants: one in the Clear Lake area of Pasadena, Texas,[6] one on Jurong Island in Singapore, and a third in Nanjing, China.[4][7]
History
In 1918, the American Cellulose & Chemical Manufacturing Company (known as Amcelle) was founded in New York City by Swiss chemist Camille Dreyfus.[8]
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, production began on Christmas Day, 1924 with a series of cellulose acetate commercial fabrics and yarns intended as alternatives to silk.[9] The plant was closed in 1983,[10] and was later torn down to provide a space for a new state prison.[11]
The company had introduced the word “Celanese,” a combination of “cellulose” and “ease” in 1925, seeking to promote the ease of cleaning and care of their acetate yarn, or artificial silk, fabrics. They officially took this name in 1927, becoming Celanese Corporation of America.
After World War II
In 1947, Celanese started producing acetate fiber at its plant near Ocotlán, Jalisco, Mexico. The plant was closed in 2019.[12]
By 1958, Celanese had 13 domestic plants, three research and development centers, some 30 groups of products, and approximately 13,000 employees.[13]
In 1959, Celanese commissioned Edward Durell Stone, a 20th-century American architect, to build the “Celanese House,” a model home in New Canaan, Connecticut, to showcase the company's new materials and styles.[14]
Celanese bought operations of the British chemicals firm Imperial Chemical Industries in 1982. This included the Fiber Industries Incorporated plant in Salisbury, North Carolina, a part of Invista since 2004.[15]
In 1983, Celanese built a $20 million plant in
Celanese spun off its pharmaceutical business as Celgene in 1986.
In 1987, Celanese Corporation was acquired by Hoechst and merged with its American subsidiary, American Hoechst, to form Hoechst Celanese Corporation.[17]
In 1998, in a $2.7 billion deal, Hoechst Celanese sold its Trevira division to a consortium between Houston-based KoSa, a joint venture of Koch Industries, IMASAB S.A., and Grupo Xtra, both of Mexico.[18][19][20] Also in 1998, Hoechst combined most of its industrial chemical operations into a new company, Celanese AG.
In 1999, Hoechst spun off Celanese AG as a publicly traded German corporation, cross-listed on both the Frankfurt and New York stock exchanges as "CZZ" and "CZ", respectively.
On 16 December 2003, the U.S.
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".[23] 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.[24]
In June 2009, the company sold its polyvinyl alcohol (PVOH) business to Sekisui Chemical Co., Ltd.[25]
Celanese has a process to make ethanol from natural gas.[26][27]
In late 2020, Celanese sold their 45% stake in Polyplastics to Daicel, who already owned 55% of the company. This transaction resulted in Daicel attaining full ownership of Polyplastics.[28]
Class action lawsuits
In 1985, Hoechst Celanese was named along with
In January 2014, a class action lawsuit was filed on behalf of the citizens of Cannon's Campground, seeking relief from health and environmental dangers posed by groundwater and surface water contamination emanating from the Hoechst-Celanese manufacturing plant in Spartanburg, South Carolina.[32] 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 had expired, relieving the company of any responsibility for damages which might be eventually discovered.[33]
Products
Acetyl intermediates
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
Advanced engineered materials offers
Consumer specialties
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. In 2021, Celanese ranked 7th on FoodTalks' Global Top 20 Food Preservative Companies list.[36]
Celanese is one of the world's largest producers of
Industrial specialties
Industrial specialties, using the
Advanced fuel technology
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.[37][38]
References
- ^ "Celanese Corporation 2023 Annual Report (Form 10-K)". SEC.gov. U.S. Securities and Exchange Commission. 23 February 2024.
- Dallas Business Journal. Retrieved Apr 10, 2019.
- ^ "Contacts." Celanese. Retrieved on December 12, 2012. "Celanese Corporation Headquarters 222 W. Las Colinas Blvd., Suite 900N Irving, Texas 75039 USA"
- ^ a b "Celanese Acetic Acid Plant, Nanjing". Chemical Technology. Retrieved 2020-09-05.
- ^ ""Celanese to cut jobs due to poor economic climate" ICIS News Jan. 15, 2009" Retrieved Jun. 29, 2010.
- ^ ""DuPont declares VAM force majeure" ICIS News Sep. 5, 2007" Retrieved Jun. 29, 2010.
- ^ "Celanese to Build Acetic Acid Plant in China". www.businesswireindia.com. Retrieved 2020-09-05.
- ^ "History of CELANESE CORPORATION". referenceforbusiness.com.
- ^ "Hoechtst Celanese Corporation History". fundinguniverse.com.
- ISSN 0190-8286. Retrieved 2020-09-06.
- ^ Wheeler, Timothy (1998-12-08). "Prison presence in Western Md. Allegany: Corrections jobs are replacing industry jobs that left the county over past 20 years, but a proliferation of prisons is not welcomed by everyone". The Baltimore Sun. Archived from the original on 2020-12-05. Retrieved 2020-09-06.
- ^ Carlson, Kara (2019-07-02). "Closing Mexico chemicals plant will cost Celanese Corp. up to $110 million". The Dallas Morning News. Retrieved 2020-09-06.
- ISSN 0009-2347.
- ^ Reagan, Candace (2018-07-26). "Joint Ventures and New Frontiers (1960-1969) – Celanese Blog". Celanese Blog. Archived from the original on 2020-11-28. Retrieved 2020-09-05.
- ^ Raymond, Amanda (June 12, 2016). "Durafiber Technologies employees look back at 50 years". Salisbury Post. Retrieved October 31, 2018.
- ISSN 0362-4331. Retrieved 2020-09-06.
- ^ "Celanese AG History" (PDF). New York Stock Exchange. Archived from the original (PDF) on 2012-10-19. Retrieved 2017-08-25.
- ^ Davis, Kathleen (1998-04-23). "Hoechst sells division for $2.7 billion". Spartanburg Herald-Journal. Retrieved 2019-11-21.
- ^ Williams, Grace (1998-04-22). "Hoechst sells Trevira to Koch/Mexican team". ICIS. Retrieved 2019-11-21.
- ^ "Company News; Celanese Canada in Talks to Sell Its Polyester Business". The New York Times. 1999-03-25. Retrieved 2019-11-25 – via Bloomberg News.
- ^ "Offer Document". U.S. Securities and Exchange Commission. Retrieved 2020-09-05.
- ^ David Carey and John E. Morris, King of Capital: The Remarkable Rise, Fall and Rise Again of Steve Schwarzman and Blackstone (Crown 2010), pp. 199-203.
- ^ Celanese - History
- ^ King of Capital, p. 205.
- ^ "About Us | Sekisui Specialty Chemicals".
- ^ "Law prevents company from making fossil-fuel-based ethanol". Archived from the original on 2012-07-29. Retrieved 2012-04-23.
- ^ "How A Dumb Law Blocks A Great Way To Fuel America".[dead link]
- ^ "60680466". S&P Global Market Intelligence. 2020-10-09. Retrieved 2024-04-10.
- .
- )
- ^ Evans, Judith (1995-11-10). "Tennessee Judge Approves Plastic Pipe Settlement". The Washington Post. The Washington Post. Retrieved 2024-02-01.
- ^ "Cannon's Campground & Groundwater Pollution | Louthian Law". www.louthianlaw.com. Retrieved 2020-09-05.
- ^ Kitzmiller, Felicia (25 February 2014). "Companies ask court to dismiss class action lawsuit". GoUpstate.com. Spartanburg, South Carolina. Archived from the original on 2014-03-03.
- ^ Celanese rileva SO.F.TER Group (Italian)
- ^ Celanese completes acquisition of SO.F.TER Grouop
- ^ Wang, Yiyi (2021-09-29). "2021年全球食品防腐剂企业20强" [Global Top 20 Food Preservative Companies]. FoodTalks (in Chinese). Retrieved 2022-02-14.
- ^ ""Celanese faces U.S. road block on ethanol" Reuters Jun. 15, 2011" Retrieved Sep. 5, 2020.
- ^ ""Company sees its coal-to-ethanol technology as a game changer – for itself and the industry" ICIS Chemical Business Jan. 10, 2011" Retrieved Apr. 6, 2012. (subscription required)
- Turnbull Morris, Peter John (1989). The American Synthetic Rubber Research Program. Pennsylvania Press. p. 258. ISBN 978-0-8122-8207-8.
External links
- Official website
- Business data for Celanese Corp.:
- "Analysis of Proposed Consent Order to Aid Public Comment" Federal Trade Commission
- Ernest Scheyder (May 11, 2010) "Interview-Celanese CEO Looks to Shake Up Product Line" Reuters
- Paul Tate (May 4, 2010) "Dialogue: Innovating the Future" Manufacturing Executive
- Wes Iversen (April 2010) "A Pragmatic Response to Climate-Change Regulation" Automation World
- Lou Reade (March 25, 2010) "Celanese Health and Safety Culture is Zero Tolerance" ICIS Chemical Business