Celanese Corporation (NYSE:CE), a global technology and specialty materials company, today announced that the company’s board of directors increased its share repurchase authorization to $400 million. As of December 31, 2013, the company had $228 million remaining under its previous authorizations. The authorization gives management discretion in determining the timing and conditions under which shares may be repurchased.
"Increasing our share repurchase authorization reflects the confidence we have in our business and its ability to generate strong cash flow," said Mark Rohr, chairman and chief executive officer. "With this authorization, we will continue to pursue our balanced cash deployment strategy, including opportunistic share repurchases, which we expect will drive increased shareholder value."
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. With sales almost equally divided between North America, Europe and Asia, the company uses the full breadth of its global chemistry, technology and business expertise to create value for customers and the corporation. Celanese partners with customers to solve their most critical needs while making a positive impact on its communities and the world. Based in Dallas, Texas, Celanese employs approximately 7,400 employees worldwide and had 2013 net sales of $6.5 billion. For more information about Celanese Corporation and its product offerings, visit
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