DALLAS – (COMMERCIAL THREAD) – Celanese Corporation (NYSE: CE), a global specialty chemicals and materials company, today announced that its board of directors has approved a new $ 1.0 billion share buyback authorization . The new share buyback authorization represents approximately 6% of the company’s outstanding shares.
In the first half of 2021, the company deployed $ 500 million to repurchase shares under the previous $ 1.5 billion share buyback authorization put in place in 2019 and increased by $ 500 million in July 2020. As of June 30, 2021, there was approximately $ 560 million under existing share repurchase authorization which, combined with this new authorization of $ 1.0 billion, will support future share repurchases.
Celanese Corporation is a global chemistry leader in the production of differentiated chemical solutions and specialty materials used in most major industries and consumer applications. Our operations use the full breadth of Celanese’s global chemical, technological and business expertise to create value for our customers, employees, shareholders and the company. As we partner with our customers to meet their most critical business needs, we strive to positively impact our communities and the world through the Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 people worldwide and reported 2020 net sales of $ 5.7 billion. For more information on Celanese Corporation and its product offerings, visit www.celanese.com.