May 06, 2026 [investing.com]- Celanese Corporation (NYSE:CE) announced Tuesday it will close its nylon production facility in Sakra, Singapore, and optimize nylon 6,6 polymerization operations at its Richmond, Virginia and Washington, West Virginia plants, according to a press release statement.

The company expects to operate the Singapore facility through the end of July 2026 before completing the shutdown. The optimization of the North American facilities is expected to reduce overall polymer production.

The specialty materials and chemical company said the changes are part of repositioning its nylon business within the Engineered Materials division. Todd Elliott, Senior Vice President of Celanese Engineered Materials, said the nylon alignment is part of the company’s “Grow & Fortify” strategy.

Celanese also announced additional initiatives across its Engineered Materials network, including steps toward commencing liquid crystal polymer operations in China, upgrades to specialty compounds production in Europe, new processes for medical-grade compounding in Asia, and product mix enhancements in India.

The company stated the actions address what it described as unsustainable feedstock dynamics and network inefficiencies. Elliott said the company aims to maintain continuity of supply and product quality during the transition.

Celanese employs more than 11,000 people worldwide and reported 2025 net sales of $9.5 billion.

In other recent news, Celanese Corporation has seen several noteworthy developments. Morgan Stanley has raised its price target for Celanese shares from $50 to $72, maintaining an Equalweight rating, citing an improved operating environment and enhanced cash flow for debt reduction. Additionally, Celanese has announced a price increase for its engineered materials, effective May 1, 2026, impacting various product lines across Asia and the Americas. The company has also declared a quarterly cash dividend of $0.03 per share, payable on May 11, 2026, to shareholders of record as of April 27, 2026.

In governance updates, Celanese shareholders elected nine directors during their 2026 Annual Meeting, ratified the company’s independent auditor, and approved executive compensation. Anne P. Noonan has been elected to the board of directors, bringing her experience as the former CEO of Summit Materials. These developments reflect ongoing strategic and operational adjustments within Celanese Corporation.