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Celanese Secures Additional CO Supply at Nanjing Complex to Support Future Expansion

Published on 2008-01-24. Author : SpecialChem

Dallas -- Celanese Corporation (NYSE: CE), a global, hybrid chemical company, announced that it has entered into a long-term supply agreement with Wison to secure availability of carbon monoxide (CO), a critical raw material, to support future expansion at its Nanjing, China, integrated chemical complex.

Wison is the current CO supplier for the Celanese acetic acid facility at the Nanjing complex. The acetic acid facility began operation in mid-2007 and has a capacity of 600,000 tons, which can be expanded to 1.2 million tons with relatively minor capital investment.

"Celanese is committed to growth in Asia as part of our focus to provide a highly reliable, cost-efficient supply to the global acetyls market. Our new agreement with Wison secures availability of a critical raw material for future expansion when demand requires," said John J. Gallagher III, president, Acetyls and Celanese Asia. "Wison has proven to be an extremely reliable supply partner, and we are delighted to have this opportunity to extend our relationship with them in a way that further demonstrates Celanese's commitment to serve future global demand and continually improve reliability for our customers."

When fully operational, the Celanese Nanjing integrated chemical complex will include production facilities for other acetyl products, acetic anhydride and vinyl acetate monomer, as well as facilities for emulsions, polymer production and compounding.

About Celanese Corporation

As a global leader in the chemicals industry, Celanese Corporation makes products essential to everyday living. Our products, found in consumer and industrial applications, are manufactured in North America, Europe and Asia. Net sales totaled $6.7 billion in 2006, with approximately 60% generated outside of North America. Known for operational excellence and execution of its business strategies, Celanese delivers value to customers around the globe with innovations and best- in-class technologies. Based in Dallas, Texas, the company employs approximately 8,900 employees worldwide.

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," 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. 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. 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. Certain of these risk factors are discussed in the company's filings with the Securities and Exchange Commission. Any forward-looking 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 or to reflect the occurrence of anticipated or unanticipated events or circumstances.

Source: Celanese Corporation


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