Celanese Announces Revitalization Plans for its Emulsions & PVOH Business
Tuesday May 22, 4:35 pm ET
Changes to Global R&D, Product Portfolio and Manufacturing Restructuring Will Result in Facility Consolidations
DALLAS--(BUSINESS WIRE)--Celanese Corporation today announced business revitalization plans for its Emulsions & PVOH (polyvinyl alcohol) business, including global manufacturing restructuring and an R&D and technology realignment, which will better position the business for sustainable, profitable growth.
"Our goal is to create a stronger, more competitive position for our business. This plan will help us accelerate product innovation and global market penetration while reducing costs in the wake of product and market shifts," said Doug Madden, president, Celanese Acetate, Emulsions & PVOH. "We will continue to meet our customer requirements as we transition out of underutilized assets."
As part of the plan, Celanese announced capacity rationalization across select European and North American sites and functions. Celanese expects that the restructuring will be completed in the next 18 months with uninterrupted service to customers.
This plan is consistent with Celanese's corporate strategy to revitalize underperforming businesses, as discussed at the company's Investor Day in December 2006.
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.
Source: Celanese Corporation
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