Celanese Completes Acquisition of Emulsions Business from ICI
Monday February 7, 3:00 am ET
DALLAS--(BUSINESS WIRE)--Feb. 7, 2005--Celanese Corporation today announced completion of the acquisition of Vinamul Polymers, the emulsion polymers business of National Starch and Chemical Company (NSC). Celanese announced its intent to purchase the business for $208 million in November 2004. NSC is a subsidiary of Imperial Chemical Industries PLC (ICI).
"This acquisition strengthens our existing emulsions business and allows us to bring leading product technologies to global customers," said David Weidman, Celanese Chief Executive Officer. Celanese acquired its current emulsions business from Clariant in 2002.
The newly combined Celanese Emulsions business has complementary positions in Europe and North America and is a leader in emulsions used in low-emission paints and coatings, adhesives, glass and fiber coatings, paperboard and other applications.
Celanese Vice President Bill Massa, who is responsible for the existing Celanese emulsions business, will lead the newly combined organization.
The acquisition is financed through borrowings under the new senior credit facilities of BCP Crystal US Holdings Corp. BCP Crystal US Holdings is a wholly owned subsidiary of Celanese Corporation.
Celanese Corporation is an integrated global producer of value-added industrial chemicals with 2003 sales of $4.6 billion. Based in Dallas, Texas, the company holds #1 or #2 market positions in products comprising the majority of its sales and has four major businesses: Chemicals Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has 24 production plants, with major operations in North America, Europe and Asia. For more information, please visit the company's web site at www.celanese.com.
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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