Celanese Sees Strong Earnings as Company Progresses with $1 Billion in Projects

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Researched by Industrial Info Resources (Sugar Land, Texas)--Chemicals producer Celanese Corporation (NYSE:CE) (Irving, Texas) reported strong earnings for the first quarter of 2018, posting net earnings of $365 million, compared with $184 million in first-quarter 2017. Celanese's net sales in the quarter expanded 29% to $1.9 billion. Industrial Info is tracking $1.05 billion in active Celanese projects.

Among the company's top projects in the planning stage is the addition of a methanol unit at its facility in Bishop, Texas. Celanese has tentatively selected the Bishop site for the project but is considering other locations. The facility would produce 1.3 metric tons per year of methanol. Celanese hopes to reach a final investment decision on the project early next year and begin construction in summer 2019. Mitsui & Company (Tokyo, Japan) is a partner on the project. For more information, see Industrial Info's project report.

Currently under construction is a vinyl acetate monomer (VAM) unit expansion in Pasadena, Texas. The project involves constructing, modifying, upgrading and refurbishing process and supporting equipment to expand the unit's production by 150,000 tons per year to a total of 450,000 tons per year. Wood Group Mustang Incorporated (Houston, Texas) is design engineer, and Infinity Construction Services LP (Clute, Texas) is general contractor. The project kicked off in early 2017 and is expected to be completed by the end of this year. For more information, see Industrial Info's project report.

Celanese also is cleaning up its emissions. In Edmonton, Alberta, the company is underway with Phase 3 of a major emissions stream reduction project. Celanese is determining the best available control to reduce emissions of oxides of nitrogen particulate matter. WorleyParsons (North Sydney, Australia) is performing engineering on the project, which kicked off in the third quarter of last year and is expected to be wrapped up this summer. For more information, see Industrial Info's project report.

Also on the books is the addition of plastic resins compounding lines at Celanese's facility in Florence, Kentucky. Two lines will be installed to increase the plants production capacity. The project is planned to kick off early this summer and take a few months to complete. For more information, see Industrial info's project report.

These are a few of the more than 50 active Celanese capital and maintenance projects being tracked by Industrial Info throughout the world. For details on how to subscribe to our Global Market Intelligence Platform, contact member services at (713) 783-5147.

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