Aug 8 (Reuters) - Specialty chemicals maker Celanese
said on Thursday it had lifted the force majeure
condition it invoked in the second quarter for its acetic acid
and vinyl acetate monomer products sold in the western
hemisphere after supply conditions improved.
Force majeure declarations are meant to relieve
companies of their contractual obligations for supply
disruptions caused by events beyond their control, such as
natural disasters.
The company invoked force majeure in June after multiple
suppliers of raw materials essential to its manufacturing
experienced operational failures.
Celanese said earlier in August that its total losses due to
unplanned supplier disruptions at its Clear Lake low-cost
production facility in Texas were the highest in over 15 years.
The impact of the force majeure in the second quarter
was about $35 million, CEO Lori Ryerkerk said.
The company is a top producer of acetic acid and VAMs, which
are used to make paints and coatings, among other products.