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