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Celanese Divests Emulsion Powders Business to ICI subsidiaries

Published on 2005-07-12. Author : SpecialChem

Dallas -- Celanese announced that it signed an agreement to sell its emulsion powders business to National Starch and Chemical Company (NSC) and to Elotex AG, both subsidiaries of Imperial Chemical Industries PLC (ICI) for $25.5 million. Closing of the transaction is subject to regulatory review and approval.

The divestment is in line with Celanese's strategy of focusing on those core businesses in which it holds leading market and technology positions.

The Celanese emulsion powders business recorded net sales of $40 million (€32 million) in 2004 and has about 50 employees, all based in Germany. Redispersible emulsion powders are used in the building and construction industry, primarily for ceramic tile adhesives and surface coatings.

Celanese Corporation (NYSE:CE) is an integrated global producer of value-added industrial chemicals based in Dallas, Texas. The Company has four major businesses: Chemicals Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has production plants in 12 countries in North America, Europe and Asia. In 2004, Celanese Corporation and its predecessor had combined net sales of $5.1 billion.The presentation of combined net sales of Celanese Corporation with its predecessor is not in accordance with U.S. GAAP.

Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company.

Source: Celanese Corporation


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