Celanese Corporation (NYSE: CE) is a chemical company that creates acetyl intermediates - a group of chemicals used to make finished products such as house paint, detergents, plastics, agricultural chemicals, and photographic film - and many other chemicals.
The company is divided into four different divisions: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates. The company has 36 production facilities around the world. 
Celanese sells chemicals to the automotive, electronics, medical, telecommunications, pharmaceuticals, food & beverage, textile, paper, and construction industries.  It is a global company and has 36 production facilities around the world.
In 2009, CE earned a net income of $488 million on revenues of $5.08 billion. This represents a 73.0% increase in net income and a 25.5% decrease in total revenues from 2008, when the company earned $282 million on $6.82 billion in revenue.
This segment produces Polyacetal products (“POM”), Ultra-high molecular weight polyethylene (“GUR”), Liquid crystal polymers (Vectra), Polyphenylene sulfide (“PPS”), Polybutylene terephthalate (“PBT”), Polyester engineering resins, and Long fiber reinforced thermoplastics. Of these POM and GUR are the segment's primary products. POM is used in automotive components, electronics and appliances. GUR is used in battery separators, conveyor belts, filtration equipment, coatings and medical devices. Its other products are used to make fuel system components, conveyor belts, battery separators, electronics, seat belt mechanisms, appliances, filtrations, coatings, medical devices, and telecommunications.
Consumer Specialties is divided into two main business lines: Acetate Products and Nutrinova. Acetate Products mainly produces acetate tow and acetate flake, used primarily to make cigarette filters and other filters. The Sunett sweetener and food preservatives are the main products of the Nutrinova business. Sunett is used in a variety of beverages and dairy products. The food preservatives, sorbic acid and sorbates, are used in the food, beverage, and personal care industries. 
Industrial Specialties has three main business lines: Emulsions, PVOH (Polyvinyl alcohol), and AT Plastics. Emulsions, specializing in vinyl acetate and ethylene emulsions, and PVOH make products that are used in paints, coatings, adhesives, construction, glass fiber, textiles, and paper. AT Plastics makes low-density polyethylene and ethylene vinyl acetate resins, which are used in flexible packaging, lamination products, hot melt adhesive, medical tubing, and automotive parts. 
Acetyl Intermediates produces VAM (vinyl acetate monomer), acetic anhydride, acetaldehyde, ethyl acetate, butyl acetate, and methyl ethyl ketone. VAM is used to make paints, films, coatings, and textiles.  Acetic anhydride is used to make cellulose acetate, detergents and pharmaceuticals.  Acetaldehyde is used in agricultural products.  Ethyl acetate is used to make inks and adhesives used in photographic films and coated papers.  Butyl acetate is a solvent used in inks, pharmaceuticals, and perfume. Methyl ethyl ketone is a solvent used in printing inks and magnetic tapes. 
International revenue is converted into U.S. dollars when it is tallied for accounting purposes, so depreciation of the dollar boosts revenue. However, the company has €400 million of debt so a weakening of the dollar makes it more difficult to pay the Euro-denominated debt back.  Beginning in 2004 Celanese began executing currency swaps with financial institutions in order to protect itself from exchange rate fluctuations. Twice a year on June 15th and December 15th Celanese would pay €13 million and receive $16 million.
Competitors by segment:
Advanced Engineered Materials' main competitors are BASF SE (BASFY), DuPont (DD), Koninklijke DSM N.V. (RDSMY), Sabic Innovative Plastics, and Solvay S.A. (SVYSY). It also competes with smaller regional firms such as Asahi Kasei Corporation, Mitsubishi Gas Chemicals, Inc., Chevron Phillips Chemical Company, Braskem SA (BAK), Lanxess AG, Teijin Ltd (TINLY), Sumitomo, Inc., and Toray Industries INc. (TRYIY).
Consumer Specialties as two sets of competitors. The subgroup Acetate Products competes with Daicel Chemical Industries Ltd., Eastman Chemical Company (EMN), and Rhodia (RHAYY) . Nutrinova's Sunett sweetener competes with sweeteners from the Nutra-Sweet Company, Ajinmoto Inc. (AJINY), and Tate & Lyle PLC (TATYY). Nutrinova's sorbates compete with Nantong AA, Daicel Chemical Industries Ltd., and Yancheng AmeriPac.
Industrial Specialties' competitors are: Air Products and Chemicals (APD), Dow Chemical Company (DOW), Rohm and Haas Company (ROH), Kuraray Co., DuPont (DD), Chang Chun Petrochemical Co., Ltd., ExxonMobil Chemical, and Arkema (ARKAY).
The biggest competitors for Acetyl Intermediates are Air Products and Chemicals (APD), Borden Chemical, Inc., British Petroleum PLC, Dow Chemical Company (DOW), DuPont (DD) , Chang Chun Petrochemical Co., Kuraray Co. Ltd., and Rohm and Haas Company (ROH).