Celanese Lowers 2008 Outlook after Posting $158 Million Profit as Economic Worries Grow

SUGAR LAND--October 22, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Celanese Corporation (NYSE:CE) (Dallas, Texas) has lowered its outlook for the rest of the 2008 fiscal year, despite reporting a third-quarter profit of $158 million, up 23.4% over the same period last year. The revised outlook comes as the company faces the effects of the global economic meltdown, as well as falling raw material and energy prices, Chairman and CEO Dave Weidman said. As part of our International Project Database, Industrial Info is tracking eight Celanese projects worth $178 million planned for completion in 2008 or beyond.