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Celanese Corporation Signs Agreement to Acquire Acetate Products Limited
Tuesday August 29, 8:00 am ET

Celanese Corporation Signs Agreement to Acquire Acetate Products Limited

In addition to the development of offshore upstream gas production facilities, the Pearl GTL project comprises the development of an onshore GTL plant that will produce 140,000 barrels per day (bpd) of GTL products and approximately 120,000 barrels of oil equivalent per day (boepd) of Natural Gas Liquids. When complete, it will be the largest GTL complex in the world.

The acquisition will broaden the reach of Celanese's acetate products business and add balance to its global product supply. With approximately 750 employees and sales revenue of about $230 million in 2005, APL operates two manufacturing facilities in the United Kingdom that produce acetate flake, tow and film. "This strategic acquisition will enhance our acetate production integration and supply capabilities, particularly in Europe," said Douglas Madden, president of Celanese Acetate LLC. "The addition of the APL business will further improve the productivity of the Celanese Acetate products network and provide an even more cost-efficient and reliable supply to our customers globally."

Acetate products are used in a range of applications in the tobacco, textile and packaging industries.

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 $6.1 billion in 2005, with approximately 60% generated outside of North America. Known for operational excellence and relentless 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 9,300 employees worldwide.

Source: Celanese Corporation

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