Celanese to Construct World-Scale Vinyl Acetate
Monomer Plant in China
Monday December 12, 4:43 pm ET
Announces New VAntage Plus(TM) Technology for Vinyl Acetate
DALLAS--(BUSINESS WIRE)--Dec. 12, 2005--Celanese Corporation, announced today that it will build a 300,000 metric ton, world-scale vinyl acetate monomer (VAM) plant at the company's Nanjing, China chemical complex. The plant is expected to be operational in late 2007 or early 2008.
i"As the world's leading producer of VAM and other acetyl-based products, we believe it is important to have a manufacturing presence in the world's fastest growing region to supply our customers with a reliable, locally produced product," said David Weidman, president and chief executive officer. "This investment is consistent with our strategy to maintain our number one position in the VAM market."
The VAM plant will receive acetic acid, a key raw material, from Celanese's 600,000 metric ton acetic acid plant in Nanjing, which will begin commercial sales in early 2007. The company currently operates seven plants around the world to produce VAM, which is used to make such products as paints, coatings, adhesives and fibers.
The company also announced today that in 2006 it will begin implementation of its next generation of VAM technology called VAntage Plus(TM). The new technology will further improve production efficiency and lower operating costs as it is phased into Celanese's VAM units over the next several years. In 2005, Celanese completed implementation of its VAntage(TM) technology in the last of its six ethylene-based VAM units. VAntage(TM) not only enhanced production efficiency, but also increased Celanese's overall VAM production capacity by 265,000 metric tons, equivalent to a world-scale unit, at 10 to 15% of the cost of building a grass-roots unit.
Celanese Corporation 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 13 countries, including facilities 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. For more information on Celanese Corporation including a reconciliation of the combined net sales, 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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