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Celanese To Assess Realignment of Acetyl Intermediates Production in France and Mexico

Published on 2009-02-03. Author : SpecialChem

DALLAS -- Celanese Corporation, a leading global chemical company, announced it is assessing the potential closure of acetic acid and vinyl acetate monomer (VAM) production in Pardies, France, and assessing the potential closure of VAM production in Cangrejera, Mexico. The company believes the consideration of this potential capacity reduction is necessitated by the significant change in the global economic environment and anticipated lower customer demand.

The company will begin the assessment phase for a potential closure of its Pardies, France, manufacturing facility. The Pardies facility is capable of producing 450,000 tons of acetic acid and 150,000 tons of VAM annually.

Additionally, the company will begin the assessment phase for a potential closure of its VAM production unit at its Cangrejera, Mexico, facility. This production unit has an annual production capacity of 115,000 tons.

Should the assessment lead to the closure of these production facilities, the company expects to meet customer obligations with production from its other facilities in Europe, North America and Asia.

All potentially affected employees would be treated fairly and according to respective country laws and practices.

"We are evaluating, along with other possible actions, the best means to align production capacity and worldwide staffing with anticipated prolonged lower demand." said David Weidman, chairman and chief executive officer. "The company is focused on meeting customer needs while maintaining our global competitive leadership position in Acetyls."

About Celanese

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 totalled $6.4 billion in 2007, with over 70% 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 8,400 employees worldwide.

Forward Looking Statements

This press release may contain forward-looking statements, which can be identified by the use of words such as "believes," "expects," "may," "will," "intends," "plans," "estimates" or "anticipates," or other comparable terminology, or by discussions of strategy, plans or intentions. These statements are based on management's current expectations and assumptions about the industries in which Solutia operates. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, those risks and uncertainties described in Solutia's most recent Annual Report on Form 10-K, including under "Cautionary Statement About Forward Looking Statements" and "Risk Factors", and Solutia's quarterly reports on Form 10-Q. Solutia disclaims any intent or obligation to update or revise any forward-looking statements in response to new information, unforeseen events, changed circumstances or any other occurrence.

Source: Celanese


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