The move is aimed at optimizing production costs across its global network
Celanese disclosed it plans to shut down its Nylon 66 and high-performance nylon units at its plant in Uentrop, Germany. The move is aimed at optimizing production costs across its global network.
The proposed cessation is subject to a consultation process with the applicable works council and union representatives at the facility, which the company said have started.
Celanese said it expects to record expenses, excluding employee termination costs, of US$110 million - US$125 million during FY 2024, consisting primarily of US$75 million –to US$85 million of non-cash accelerated depreciation of fixed asset costs and US$35 million - US$40 million of other facility-related shutdown cash costs.
The company expects to complete the closure of the units in 2024.
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