Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Celanese Announces Joint Statement of Cooperation with Pertamina to Advance the Development of Fuel Ethanol Projects in



  Celanese Announces Joint Statement of Cooperation with Pertamina to Advance
  the Development of Fuel Ethanol Projects in Indonesia

Business Wire

JAKARTA, Indonesia & DALLAS -- July 19, 2012

Celanese Corporation (NYSE:CE), a global technology and specialty materials
company, today announced that it has entered into a Joint Statement of
Cooperation to advance the development of fuel ethanol projects with
Pertamina, the state-owned energy company of Indonesia. In line with its
long-term strategy to develop new and renewable energy capabilities, Pertamina
will collaborate exclusively with Celanese to jointly develop synthetic fuel
ethanol projects in the Republic of Indonesia utilizing Celanese’s proprietary
TCX^® ethanol process technology.

“Celanese’s TCX^® Technology can help Indonesia meet its growing demand for
affordable, locally-sourced, high quality and safe liquid transportation fuel.
High-octane fuel ethanol produced using TCX^® Technology would help improve
air quality through the reduction of particulate matter as well as nitrogen
oxide and sulfur oxide emissions,” said Steven Sterin, chief financial officer
and president of Celanese’s Advanced Fuel Technologies business.

“These projects support many of the Indonesian government’s long-term
objectives for the use of its abundant local resources, specifically
lower-rank coal, to drive economic development, reduce imported energy
requirements and to improve environmental and air quality standards. We are
delighted to work with Pertamina to further develop this opportunity within
Indonesia and look forward to working closely with them to bring many benefits
to the country.”

Karen Agustiawan, President Director & CEO, PT Pertamina (Persero), said: “A
major priority for Pertamina is supporting the Government of Indonesia in
securing and managing our energy resources to meet rising demand among both
businesses and consumers so we can continue to drive our economic growth to
benefit all sections of the society. To meet this goal, we are pleased to be
actively working with companies like Celanese on the development and
application of new forms of energy, such as synthetic fuel ethanol.”

Indonesia’s current demand for transportation fuel in 2012 is expected to
reach approximately 25 million tons and increase six percent annually through
at least 2020. A 10 percent blend of high-octane fuel ethanol by 2020 would
potentially require up to four world-scale TCX^® Technology production units
which could reduce Pertamina’s gasoline import requirements by over 30 million
barrels annually. In addition, high-octane fuel ethanol, which improves
tailpipe emissions, may also assist Pertamina in meeting Indonesia’s goals of
improving the country’s gasoline and air quality standards.

Under the Joint Statement of Cooperation, Celanese and Pertamina will work
together to define potential supply arrangements, production locations and
distribution strategies. Following this work, along with final investment
decisions made by each companies’ management, and receiving all necessary
approvals, production could begin in approximately 30 months.

About Celanese

Celanese Corporation is a global technology leader in the production of
specialty materials and chemical products which are used in most major
industries and consumer applications. Our products, essential to everyday
living, are manufactured in North America, Europe and Asia. Known for
operational excellence, sustainability and premier safety performance,
Celanese delivers value to customers around the globe with best-in-class
technologies. Based in Dallas, Texas, the company employs approximately 7,600
employees worldwide and had 2011 net sales of $6.8 billion, with approximately
73% generated outside of North America. For more information about Celanese
Corporation and its global product offerings, visit www.celanese.com.

About Celanese TCX^® Technology

Celanese TCX^® Technology, an innovative ethanol production process, helps
countries meet their growing transportation fuel needs by converting domestic
natural gas and coal feedstocks to liquid fuel and helps countries that seek
diverse, secure transportation fuel. For more information, visit
www.celanesetcx.com.

Forward-Looking Statements

This release may contain “forward-looking statements,” which include
information concerning the company's plans, objectives, goals, strategies,
future revenues or performance, capital expenditures, financing needs and
other information that is not historical information. When used in this
release, the words “outlook,” “forecast,” “estimates,” “expects,”
“anticipates,” “projects,” “plans,” “intends,” “believes,” “may,” “can,”
“could,” “might,” “will” and variations of such words or similar expressions
are intended to identify forward-looking statements. All forward-looking
statements are based upon current expectations and beliefs and various
assumptions. There can be no assurance that the company will realize these
expectations or that these beliefs will prove correct, including that any one
or more plants will be constructed or will operate on the schedule or with the
terms desired by the company. There are a number of risks and uncertainties
that could cause actual results to differ materially from the results
expressed or implied in the forward-looking statements contained in this
release. These risks and uncertainties include, among other things: changes in
general economic, business, political and regulatory conditions; changes in
the price and availability of raw materials; the ability to improve
productivity by implementing technological improvements; increased price
competition and the introduction of competing products by other companies;
market acceptance of our technology; the ability to obtain governmental
approvals and to construct facilities on terms and schedules acceptable to the
company; the ability to maintain plant utilization; changes in the degree of
intellectual property and other legal protection afforded to our products;
compliance and other costs and potential disruption or interruption of
production or operations due to accidents, cyber security incidents, terrorism
or political unrest or other unforeseen events or delays in construction or
operation of facilities; potential liability for remedial actions and
increased costs under existing or future environmental regulations, including
those relating to climate change; potential liability resulting from pending
or future litigation, or from changes in the laws, regulations or policies of
governments or other governmental activities in the countries in which we
operate; changes in currency exchange rates and interest rates; and various
other factors discussed from time to time in the company's filings with the
Securities and Exchange Commission. Any forward-looking statement speaks only
as of the date on which it is made, and the company undertakes no obligation
to update any forward-looking statements to reflect events or circumstances
after the date on which it is made or to reflect the occurrence of anticipated
or unanticipated events or circumstances.

Contact:

Celanese Corporation
Investor Relations
Jon Puckett, +1-972-443-4965
Telefax: +1-972-443-8519
Jon.Puckett@celanese.com
or
Media Relations
Travis Jacobsen, +1-972-443-3750
Telefax: +1-972-443-8519
William.Jacobsen@celanese.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement