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Celanese Emulsion Business to Grow by Acquiring Ashland Product Line

Published on 2011-11-11. Author : SpecialChem

DALLAS -- Celanese Corporation, a global technology and specialty materials company and a global leader in emulsion polymers, has announced an agreement to acquire certain assets from Ashland Inc., including two product lines, Vinac® and Flexbond®, which will support the strategic growth of the Celanese Emulsion Polymers business. The transaction is expected to close within 60 days, subject to satisfaction of closing conditions. Terms were not disclosed. Revenues of Vinac® and Flexbond® were approximately US$45 million in 2010.

"Celanese is a global leader in emulsion polymers, and this acquisition broadens our innovative product offerings to support our customers in growth-oriented segments," said Doug Madden, chief operating officer. "This transaction is consistent with our strategy to create shareholder value through strategic portfolio enhancements."

"This acquisition will accelerate the growth of the Emulsion Polymers business throughout the Americas in key segments such as adhesives, textiles, coatings and paper," said Phillip McDivitt, general manager, Celanese Emulsion Polymers. "The addition of Vinac® and Flexbond® will expand our product portfolio while building upon Celanese's emulsion process technology at our Enoree, S.C., and Boucherville, Quebec, Canada, manufacturing facilities."

Vinac® branded products are used to make a variety of adhesives for use in woodworking and paper packaging and converting applications. These vinyl-based polymers can be used to make water resistant wood glues and adhesives suitable for use with various kraft and coated paperboards.

Flexbond® branded products are used to make interior and exterior architectural paints. These paints exhibit characteristics such as scrub and stain resistance in interior paints and weather resistance in exterior formulas.

About Celanese

Celanese Corporation is a global technology leader in the production of specialty materials and chemical products which are used in most major industries and consumer applications. Our products, essential to everyday living, are manufactured in North America, Europe and Asia. Known for operational excellence, sustainability and premier safety performance, Celanese delivers value to customers around the globe with best-in-class technologies. Based in Dallas, Texas, the company employs approximately 7,250 employees worldwide and had 2010 net sales of $5.9 billion, with approximately 72% generated outside of North America.

About the Emulsion Polymers Business of Celanese

The Emulsion Polymers business of Celanese is a global leader in developing products and application technology to improve performance, create value and drive innovation in a broad range of industrial and consumer end-use applications including adhesives, coatings, engineered fabrics, glass fibers, paper, textiles and more. The business has manufacturing facilities worldwide and is supported by expert technical service regionally.

Forward-Looking Statements

This release may contain "forward-looking statements," which include information concerning the company's plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. When used in this release, the words "outlook," "forecast," "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "will," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions, including the purchase of two emulsions product lines. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release, including with respect to the acquisition. Numerous factors, many of which are beyond the company's control, could cause actual results to differ materially from those expressed as forward-looking statements. Other risk factors include those that are discussed in the company's filings with the Securities and Exchange Commission. Any forwardlooking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made

Source: Celanese


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