Celanese Initiates Controlled Shutdown of Texas Gulf Coast Plants Due to Hurricane Rita.DALLAS -- Celanese Corporation today announced that it has closed its plants in Clear Lake, Pasadena, Bay City and Bishop, Texas in preparation for Hurricane Rita Hurricane Rita was the fourth-most intense Atlantic hurricane ever recorded and the most intense tropical cyclone ever observed in the Gulf of Mexico. Rita caused $11.3 billion in damage on the U.S. Gulf Coast in September 2005. . Ensuring the safety of Celanese employees at these plants and securing the facilities are the company's foremost priorities. As a result of the closures, Celanese's ability to supply its customers' product needs will be impacted, at a minimum, for the duration of the shutdowns. "We have evacuated all non-essential employees and completed an orderly shutdown of these plants as part of our hurricane preparation plan to ensure, first and foremost, the safety of our employees and the nearby community," said David Weidman, president and chief executive officer. "Once we assess the effect of Hurricane Rita on overall operations, we will work with our customers to minimize disruptions and meet their product needs. We will stay in close communication with employees and customers on the status of the plants' operations." Given the hurricane's current trajectory and the shutdown of the facilities, there will likely be an impact on the company's financial guidance. The company will provide additional information when available. Celanese Corporation (NYSE NYSE See: New York Stock Exchange :CE) is an integrated global producer of value-added industrial chemicals based in Dallas. The Company has four major businesses: Chemical Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has production plants in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia. In 2004, Celanese Corporation and its predecessor had combined net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $5.1 billion. The presentation of combined net sales of Celanese Corporation with its predecessor is not in accordance with U.S. GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). . For more information on Celanese Corporation including a reconciliation of the combined net sales, please visit the company's web site at www.celanese.com. Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company. |
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