What Celanese Corporation told the SEC could break it.

Core feedstocks are commodity methanol and ethylene, with methanol produced from U.S. Gulf Coast natural gas — exposing Celanese to natural-gas and petrochemical price swings.

“Methanol and ethylene are commodity products and generally available from a wide variety of sources, while carbon monoxide is typically purpose-made in close proximity.”

Europe accounts for ~35% of net sales (Germany the largest, though German sales fell sharply in 2025); adverse European economic conditions weigh on results and liquidity.

“Historically, sales originating in Europe have accounted for approximately one-third of our net sales annually, and accounted for approximately 35% of our Net sales in 2025.”

Celanese is one of 71 parties to an EPA consent order for the Lower Passaic River Site; the EPA's selected remedy for the Lower 8.3 Miles (bank-to-bank dredging + engineered cap) carries an EPA-estimated cost of ~$1.4 billion.

“Pursuant to the EPA's Record of Decision, the Lower 8.3 Miles must be dredged bank to bank and an engineered cap must be installed at an EPA estimated cost of approximately $ 1.4 billion.”

While Celanese generally keeps multiple sources, some individual plants have single sources of supply for raw materials such as carbon monoxide, steam and ethylene, or site services.

“However, some of our individual plants may have single sources of supply for some of their raw materials, such as carbon monoxide, steam and ethylene, or site services.”