Celanese Announces Intended Closure Of Its Polyamide 66 And High-Performance Nylon Polymerization Units At Its Facility In Uentrop, Germany; Expects To Record Expenses Of $110M-$125M Plus Employee Termination Costs
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Celanese Corporation announced the intended closure of its Polyamide 66 and High-Performance Nylon polymerization units at its facility in Uentrop, Germany. The closure, expected to be completed in 2024, is aimed at optimizing production costs. The company expects to record expenses of $110-125 million, excluding employee termination costs. The actual charges may vary significantly based on various factors, including the outcome of the consultation process with the works council and union representatives.
October 31, 2023 | 8:49 pm
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Celanese's planned closure of its units in Germany could lead to significant expenses, potentially impacting its financial performance in the short term.
The closure of the units is expected to result in significant expenses for Celanese, which could negatively impact its financial performance in the short term. However, the final impact will depend on the actual costs incurred, which could vary based on the outcome of the consultation process with the works council and union representatives.
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