Celanese Corporation (NYSE: CE) announced the immediate closure of its engineered materials compounding facility in Ulsan, South Korea, as part of a production network optimization initiative.

The specialty materials and chemical company will transfer production volumes from the Ulsan facility to its existing plants in Nanjing and Shenzhen, China, and to its facility in Silvassa, India. Manufacturing and production operations at the South Korean location will cease immediately.

The closure supports Celanese's "Grow & Fortify" strategy for its Engineered Materials business. The company stated it will fulfill all contractual obligations and ensure a smooth transition of production and compounding activities to other manufacturing locations in the region.

Celanese produces specialty materials including PET (Polyethylene Terephthalate), PA (Polyamide), PBT (Polybutylene Terephthalate) and HTN (High-Temperature Nylon). The company reported 2025 net sales of $9.5 billion and employs approximately 11,000 people worldwide.

The Dallas-based company described the move as an effort to optimize its cost and manufacturing production footprint while strengthening its regional supply chain network. Information is based on a company press release.