2003/3/4 Celanese
Celanese to Build Acetic Acid Plant in China
Celanese AG today announced that it has received Chinese
government approval to build a world-scale acetic acid plant in
the Jiangsu province. The plant will be located at the Nanjing
Chemical Industry Park, Nanjing City, in eastern China.
The facility will have an annual capacity of 600,000 metric
tons. Project
activities will begin immediately, with production expected to
begin in late 2005/early 2006. The investment amount for the
project is not disclosed. Celanese reaffirmed its guidance for
2003 total capital expenditure of approximately Euro 230 million.
Celanese capital expenditures in the acetyl segment over the next
three years will approximate depreciation.
“The decision to build a facility in
Nanjing City demonstrates our expectations for the Chinese market
and our commitment to our core businesses and Asia as a whole,” said
Claudio Sonder, Celanese CEO. “Growth prospects in China are
excellent, and we can deploy our state-of-the-art process
technology to meet the growing need for acetic acid and
derivatives.”
In China, Celanese
has long-standing joint ventures in cellulose acetate tow. In
addition, groundbreaking for a new polyacetal engineering
plastics joint venture site is expected to take place in mid-2003
in Nantong, China.
“We view the Celanese acetic unit as one of
the most important projects in the park, as acetic acid is one of
the three anchor products upon which we will be basing our
chemical industry development in the area,”
said Mr. Lu Yi,
General Manager of the Nanjing Chemical Industry Park.
Nanjing City, in the commercial heart of China, is situated on
the lower Yangtze River and offers superior logistics provided by
a vast network of rail, road, and waterways. The Nanjing Chemical
Industry Park is one of the two State-level petrochemical parks
in China.
Celanese holds a worldwide leading position in acetic acid with
production capacities of over 2 million tons per-annum.
Celanese AG is a global chemicals company with leading positions
in its key products and world class process technology. The
Celanese portfolio consists of five main businesses: Acetyl
Products, Chemical Intermediates, Acetate Products, Technical
Polymers Ticona and Performance Products.
Celanese generated sales of around Euro 4.3 billion in 2002 and
has 10,700 employees. The company has 25 production plants and
six research centers in 11 countries mainly in North America,
Europe and Asia. Celanese AG shares are listed on the Frankfurt
Stock Exchange (stock exchange symbol CZZ) and on the New York
Stock Exchange (symbol CZ).
January 6, 2004
Blackstone Goes Chemical Friendly
Takeover Offer
http://www.atofina.com/groupe/gb/f_elf_2.cfm
In yet another
high-profile chemicals deal -almost an oxymoron before 2003- The
Blackstone Group agreed to acquire Celanese AG in a transaction
valued at roughly Eruo3.1 billion, or $3.8 billion.
Blackstone Vice Chairman Hamilton James points to the chemical
industry's relatively depressed values as the driving the
interest from private equity players. "The chemical industry
is one sector where the valuations have lagged behind. There have
been a number of companies selling for pretty low
multiples," he said.
It was these low multiples that brought Blackstone to the
chemical arena in 2003. The Celanese purchase represents its
second big-ticket chemical deal, having participated in the $4.3
billion purchase of Ondeo Nalco. Apollo Management and GS Capital
Partners also took part in the Ondeo Nalco transaction.
Other chemical deals that occurred last year include: Bain
Capital's $983 million LBO of SigmaKalon; Texas Pacific Group's
$800 million purchase of Kraton Polymers; Soros Private Equity's
$256 million buyout of PolymerLatex; and Arsenal Capital
Partners' $65 million acquisition of Rutherford Chemicals.
As a result of the Celanese buyout, shareholders will receive
R32.50 a share, giving the company an enterprise value of R3.1
billion, which includes Celanese's net debt and pension
obligations. Blackstone intends to inject R380 million into the
pension fund, which at last check accounted for R1.039 billion of
Celanese's debt. The company's net financial debt stands at R446
million. To finance the deal, the firm has already received
commitments from Morgan Stanley and Deutsche Bank, although no
details about the arrangements were made available.
By most accounts, Blackstone got a pretty good deal for Celanese.
In a research note to its clients, HSBC Bank Plc, said, "We
believe [Blackstone's] R32.50 per share offer for the group is
relatively conservative given the company's recovery
potential," and HSBCsuggested that a per-share bid of
between R35 and R37 would better account for the company's
potential upside. Additionally, HSBC gave Celanese a break-up
valuation of up to R36.90 per share.
The acquisition, which would represent the largest ever
public-to-private offer for a German company, still needs a
minimum of 85% shareholder approval for the deal to go through,
and the transaction is also subject to passing antitrust
clearances. Blackstone has already received notice from Kuwait
Petroleum Corp.-a holder of roughly 29% of Celanese stock-that it
intends to accept the tender offer.
In a prepared statement, Celanese said Blackstone would support
the company's management team and continue to follow through on
its existing strategy. And Blackstone President and CEO Stephen
Schwarzman said the firm sees "Celanese as an attractive
vehicle for growth, with ongoing opportunities for operational
enhancements and execution of strategic initiatives," adding
that that going forward, Blackstone would look at possible
acquisitions and intends to continue the company's restructuring
efforts.
Blackstone did not otherwise comment on future plans for the
business, but as of right now, most speculation points to
possibly re-domiciling Celanese in the U.S., and eventually
floating the company in an IPO. Celanese was a New York-based
company prior to 1987 when it was acquired by Hoechst AG. Two
years later Celanese was spun out from Hoechst but maintained its
Frankfurt address, even as the company employs more than 10,700
workers in North America, and revenues from the U.S. make up
roughly 60% of Celanese's total sales.
Blackstone will use its $6.45 billion Blackstone Capital Partners
IV fund for the transaction, and most expect the deal to be
finalized near the end of the first quarter.
Blackstone Announces Intention to
Launch Friendly Takeover Offer for Celanese AG
http://www.blackstone.com/news/press_releases/12-16-03.pdf
・Voluntary tender offer of EUR
32.50 per share
・Transaction with an
enterprise value of EUR 3.1 billion
・Celanese Management Board
and main shareholder KPC support tender offer
BCP Crystal Acquisition GmbH & Co. KG, a German limited partnership controlled by a group of funds advised by The Blackstone Group, New York, today announced its decision to make a voluntary takeover offer (the “Offer”) for all of the outstanding shares of Celanese AG, Kronberg i.T. (WKN 575300). BCP Crystal Acquisition GmbH & Co. KG intends to offer a price per share of EUR 32.50. This is above the all-time-high closing price and represents a premium of 46% over the average daily volume-weighted price per share of Celanese in 2003, and a premium of 13% over the three-month volume-weighted average daily closing share price of EUR 28.66.
With a total transaction value of approximately EUR 3.1 billion including the value of Celanese’s current net debt and pension and post-retirement benefit obligations, this transaction is one of the largest transactions in 2003 and also the largest public-to-private offer in Germany to date. It is also the first dual jurisdiction tender offer in Germany and the US since the Takeover Act was enacted in Germany.
Celanese management is supportive of the Offer.
Stephen A. Schwarzman, President and CEO of The Blackstone Group, commented: “Blackstone views Celanese as an attractive vehicle for growth with ongoing opportunities for operational enhancements and execution of strategic initiatives, including acquisitions and restructurings. Blackstone believes that taking Celanese private will provide the Company with increased flexibility to more actively pursue its strategic objectives.”
Celanese AG’s largest shareholder, Kuwait Petroleum Corporation (“KPC”), holding approximately 29% of the shares of Celanese AG (excluding treasury shares), has undertaken to accept the tender offer.
The takeover offer will be conditioned on the receipt of antitrust clearances and will contain further conditions that will be described in the offering materials. BCP Crystal Acquisition GmbH & Co. KG expects that these conditions will include a minimum acceptance condition of 85% of the issued ordinary shares (excluding the treasury shares), the absence of any material adverse change with respect to Celanese AG and other, mostly customary, conditions. Blackstone will provide the equity funding for the transaction and Morgan Stanley and Deutsche Bank have provided firm financing commitments for the remaining funds required to complete the transaction.
In addition to its offer price of
EUR 32.50 per share, BCP Crystal Acquisition GmbH & Co. KG
also intends to arrange for a pre-funding of approximately $460
million (approximately EUR 380 million based on current exchange
rates) into Celanese’s
pension funds, covering a large part of the underfunding of those
funds.
The Blackstone Group, a leading global investment firm, was
founded in 1985. Blackstone Capital Partners IV is the largest
institutional private equity fund ever raised at $6.45 billion.
The firm has raised in excess of $25 billion for alternative
asset investing since its formation, including over $14 billion
for private equity investing. Blackstone is headquartered in New
York. Blackstone is advised on its European investments by
offices in London and Hamburg. The latter office was recently
opened to advise on fund investments in the German speaking and
Northern European markets. Blackstone´s policy is only to pursue strictly
friendly transactions.
Celanese was spun off in 1999 from the former Hoechst AG and is a
global industrial chemicals company that operates five principal
business segments: Acetyl products; chemical intermediates;
acetate products; Ticona and Nutrinova. Celanese had revenues of
Euro 4.3bn in 2002, employing 10,700 world-wide. The share price
of Celanese at the time of the spin off in 1999 was Euro16.
The offer document (Angebotsunterlage), when available, will be
published by BCP Crystal Acquisition GmbH & Co. KG at the web
site www.tbg-cag.de and in the Borsen Zeitung (or, on days on
which the Borsen Zeitung is not published, in the Frankfurter
Allgemeine Zeitung) after the approval by the Bundesanstalt fur
Finanzdienstleistungsaufsicht (“BAFin”). The offer document, when available, may
also be obtained at the SEC’s
website, www.sec.gov. The approval by BAFin is expected in early
February 2004.
ブルームバーグニュース 2004/4/1
米ブラックストーン、独セラニーズ買収を最終決定ーＴＯＢ成功で
米投資会社ブラックストーン・グループは１日、株式公開買い付け（ＴＯＢ）が成功したため、接着剤などに使われる酢酸生産最大手、ドイツのセラニーズを16億ユーロ（約2126億円）で買収する計画の完了を最終決定したことを明らかにした。
セラニーズの株式全体の83.6％を保有する株主が、ブラックストーンの買収提案を受け入れた。提示額は１株当たり32.50ユーロと、発表前の昨年12月16日の終値に比べ15％上乗せした水準だった。
ブラックストーンは先月、買収完了に最低限必要な株式数を引き下げたほか、ＴＯＢ期間を２週間延長していた。
セラニーズの１日株価終値は0.11ユーロ（0.3％）安の33.50ユーロ。株価は過去１年間で２倍になった。同社は1999年にドイツのヘキスト社から分離された会社で、化学事業を展開している。
2004/4/2 Celanese
Management welcomes positive outcome of Blackstone takeover offer
83.6% of outstanding Celanese shares tendered
Subsequent acceptance period runs until April 19, 2004 inclusively
http://www.celanese.com/mr_news_fullpage?id=21429BCP Crystal Acquisition GmbH & Co. KG announced today that the minimum acceptance conditions for the voluntary public takeover offer for all outstanding shares in Celanese AG have been met. Following the expiry of the acceptance period on March 29, 2004, the final result amounted to 83.6% of outstanding shares. During the subsequent acceptance period, which runs from April 4 until 19, 2004 inclusively, those shareholders who have not yet tendered their shares will have the opportunity to do so at an unchanged offer price of Euro 32.50 per share.
"We are very pleased that the vast majority of shareholders have accepted the offer and that all conditions for the successful conclusion of the takeover have been satisfied", said Celanese AG chairman Claudio Sonder. "Blackstone is an excellent global financial investor and partner for Celanese and has clearly expressed its support and intended continuation of the growth and productivity strategy we have initiated."
Oct 27 2004 Celanese AG
Celanese Parent Signs Agreement to Acquire Acetex Corporation
http://www.celanese.com/mr_news_fullpage?id=22799
Blackstone Crystal Holdings
Capital Partners (Cayman) IV Ltd. (BCP Crystal) and Acetex
Corporation (Acetex) announced
today that they have signed an Arrangement Agreement for BCP
Crystal to acquire Acetex in a transaction valued at
approximately CDN $600 million (USD $492 million). Under the
terms of the Arrangement Agreement, BCP Crystal will acquire all
of the issued and outstanding common shares of Acetex for CDN
$9.00 (USD $7.38) cash per share. Acetex option and warrant
holders are eligible to receive CDN $9.00 cash, less the exercise
price of each option or warrant.
Acetex will
be operated as part of BCP Crystal’s global Celanese
chemicals business. “The acquisition of Acetex is an important
part of our overall efforts to accelerate growth and productivity
at Celanese,” said David
Weidman, designated Chief Executive Officer of the holding
company for Celanese. “It
is consistent with our commitment to provide a highly reliable,
cost-efficient supply to the global acetyls market. We have been
impressed with the Acetex team and look forward to serving our
customers together in the near future.”
Brooke N. Wade, Chairman and Chief
Executive Officer of Acetex, noted, “With the sale, our long-term shareholders
receive a premium valuation for their investments in Acetex.
Celanese brings to the table a globally recognized brand name,
proprietary technology and expertise that will strengthen our
acetyls operations. Those qualities also make Celanese an ideal
partner for the Saudi Arabia acetyls project and one that
appreciates its potential value.”
Acetyl products, which include
acetic acid, vinyl acetate monomer and others, are the building
block chemicals used to produce such products as paints,
coatings, adhesives, and textiles.
The offer to acquire approximately 35.4 million diluted common
shares at a purchase price of CDN $9.00 per share equivalent
implies a total value for the equity of Acetex of CDN $318
million (USD $261 million). The per share offer price represents
a 26% premium to the average closing price in the 30 days prior
to Acetex’s September 17
announcement that it was in discussions regarding a potential
transaction. Acetex net financial debt of approximately CDN $282
million (USD $231 million) will be assumed in the transaction.
The acquisition will be financed through an amendment and
expansion of the senior credit facility of a BCP Crystal
subsidiary.
The transaction is to be effected by way of a statutory “Plan of Arrangement” (thus the aforementioned “Arrangement Agreement”). It is expected that a management proxy
circular regarding the Arrangement will be mailed to
shareholders, option holders and warrant holders in December
2004, with a meeting of the Acetex shareholders, option holders
and warrant holders to approve the Arrangement in January 2005.
The Board of Directors of Acetex has unanimously approved the
Arrangement Agreement and is recommending Acetex security holders
vote in favor of the Arrangement. Brooke N. Wade, Chairman and
Chief Executive Officer, (beneficially owns or controls 8,011,198
shares) and Ken E. Vidalin, Chief Operating Officer,
(beneficially owns or controls 2,530,065 shares and holds 781,088
options) have each entered into support agreements agreeing to
vote in favor of the Arrangement subject to their fiduciary
obligations. Closing of the transaction is conditioned upon the
approval of two-thirds of the votes cast by holders of the Acetex
shares, options and warrants at the meeting. The transaction is
subject to regulatory approval in Canada, the United States and
Europe. The obligation of BCP Crystal to complete a transaction
is also subject to the satisfaction of other customary conditions
described in the Arrangement Agreement including court approval.
UBS Securities Canada Inc. acted as lead financial advisor to
Acetex in connection with the transaction. GMP Securities Ltd.
acted as financial advisor and provided an opinion to the Board
of Directors of Acetex confirming the fairness of the offer.
Lehman Brothers Inc. acted as financial advisor to BCP Crystal.
Blackstone Crystal Holdings Capital Partners (Cayman) IV Ltd.
(BCP Crystal) is controlled by a group of investment funds, which
are advised by The Blackstone Group, a leading global investment
firm. Earlier this year, a subsidiary of BCP Crystal successfully
completed a voluntary public tender offer for Celanese.
Celanese holds worldwide leading positions in its key products
and world-class process technology. The Celanese portfolio
consists of four main businesses: Chemical Products, Acetate
Products, Technical Polymers Ticona and Performance Products. In
2003, Celanese generated sales of around USD $4.6 billion with
about 9,500 employees. Celanese has 24 production plants and six
research centers in 10 countries mainly in North America, Europe
and Asia.
Acetex with 2003 revenues of USD $484 million and approximately
900 employees worldwide has two primary businesses - its Acetyls Business and
the Specialty Polymers and Films Business. The Acetyls business, based in Europe,
produces acetic acid, polyvinyl alcohol and vinyl acetate
monomer. These chemicals and their derivatives are used in a wide
range of applications in the automotive, construction, packaging,
pharmaceutical and textile industries. Specialty polymers
developed and manufactured by Acetex are used in the manufacture
of a variety of plastics products, including packaging and
laminating products, auto parts, adhesives and medical products.
The Films Business focuses on products for the agricultural,
horticultural and construction industries.
Acetex is headquartered in Vancouver, Canada. The Company
operates production facilities in France, Spain, and Canada, and
sells to customers primarily in Europe, the United States, and
Canada. Acetex’s common
shares are listed for trading under the symbol “ATX” on
The Toronto Stock Exchange, which has neither approved nor
disapproved the information contained herein.
Acetex has
announced plans for a joint venture for the construction and
operation of a USD $1 billion integrated world-scale acetyls
facility in Al Jubail, Saudi Arabia. Acetex is proceeding, in conjunction with
its partners, with the front-end engineering design for the
construction of the plant. The JV partner is National Petrochemical
Industrialization Company (TASNEE). The project will benefit from favorable
natural gas supply as well as from Acetex's proprietary
integration technology. Acetex will own 50% of the acetyls
company (acetic acid and VAM) and 25% of the methanol company and
expects to enter long-term methanol supply agreements with the
joint venture to cover its methanol requirements in Saudi Arabia
and Europe.
Acetex Corporation http://www.acetex.com/100/index.html
Acetex Corporation is Europe's second largest producer of acetic acid and polyvinyl alcohol and third largest producer of vinyl acetate monomer. These chemicals and their derivatives are used in a wide range of applications in the automotive, construction, packaging, pharmaceutical and textile industries. We direct our operations from our corporate head office in Vancouver, Canada and our European head office in Paris, France. Acetex has plants in France and Spain and sales offices throughout Europe. Our shares trade on the Toronto Stock Exchange under the symbol ATX.
On August 5, 2003, Acetex Corporation announced the completion of its amalgamation with AT Plastics Inc.. The AT Plastics business of Acetex develops and manufactures specialty polymers and films products. Specialty polymers are used in the manufacture of a variety of plastics products, including packaging and laminating products, auto parts, adhesives and medical products. The films business focuses on products for the agricultural, horticultural and construction industries.
November 23, 2004
Celanese
Celanese Announces Acquisition of Emulsion Polymer Business from
ICI
Celanese announced today that it has agreed to purchase Vinamul Polymers, the emulsion polymer
business of National
Starch and Chemical Company (NSC), for $208 million, subject to
regulatory approvals and other customary conditions. NSC is a
subsidiary of Imperial Chemical Industries PLC (ICI).
"This acquisition is the latest development in a strategy of
diversifying our product offering with higher-value chemicals
that are customized for end-use applications," said David
Weidman, CEO-Designate of Celanese Corporation, the global parent
for the Celanese businesses.
Emulsion polymers enhance the performance of adhesives, paints
and coatings, textiles, paper, building products and other goods.
The Vinamul Polymers product line includes vinyl acetate-ethylene
(VAE) copolymers, vinyl acetate homopolymers and copolymers, and
acrylic and vinyl acrylic emulsions.
For the year ended December 31, 2003, Vinamul Polymers had sales
of $335 million, of which $97 million were internal sales to
other NSC and ICI businesses. Operating profit was $18 million.
The business has approximately 600 employees and operates
manufacturing facilities in the U.S., Canada, the U.K., and The
Netherlands.
The acquisition is expected to be financed through an amendment
and expansion of the senior credit facilities of a subsidiary of
Celanese Corporation.
"The Celanese and Vinamul Polymers businesses complement
each other geographically and technologically", Weidman
noted. "Together, we can offer customers a wider range of
product solutions, a more reliable source of supply, and the
ability to expand with them globally."
Celanese's current emulsion polymers business, which was acquired
from Clariant in 2002, is primarily focused in Europe, while the
Vinamul business includes complementary positions in both Europe
and North America. Celanese employs state-of-the-art emulsions
technology for use in low-emission paints and coatings, adhesives
and other applications. Vinamul, among other things, is a
recognized leader in emulsions for use in non-woven fabrics,
paperboard and glass fiber coatings.
As part of the agreement, NSC will continue to supply Vinamul
Polymers with starch, dextrin and other specialty ingredients
following the acquisition. Celanese will supply the Vinamul
business with vinyl acetate monomer (VAM) and polyvinyl alcohols
(PVOH).
Celanese Corporation is controlled by a group of investment
funds, which are advised by The Blackstone Group, a leading
global investment firm.
Celanese holds worldwide leading positions in its key products
and world-class process technology. The Celanese portfolio
consists of four main businesses: Chemical Products, Acetate
Products, Technical Polymers Ticona and Performance Products. In
2003, Celanese generated sales of around USD $4.6 billion with
about 9,500 employees. Celanese has 24 production plants and six
research centers in 10 countries mainly in North America, Europe
and Asia.
Celanese Corporation is a Delaware corporation headquartered in
Dallas, Texas, USA.
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.
2005/7/6 Celanese
Celanese to Build Emulsions Plant in China
http://www.celanese.com/index/mr_index/mr_news/c_news_fullpage-link?id=29639
Celanese Corporation
announced today the intention of a strategic investment in the
construction of a state-of-the-art Vinyl Acetate
Ethylene and
Conventional
Emulsion Polymer facility in China. The new plant will
incorporate the leading technology from the other emulsions
plants that Celanese operates around the world. The site
selection process is in an advanced stage and the facility is
planned to be operational in the first half of 2007.
"We view this strategic decision as a significant milestone
for our growing emulsions business," said Celanese Chief
Executive Officer David Weidman. "It is also consistent with
our commitment to the Asia region ? especially China ? and our
strategy of strengthening our product offering with higher-value
products."
Celanese made its first emulsions acquisition from
Clariant in
2002 and completed the acquisition of the Vinamul
emulsions business from ICI in February 2005. Celanese’s global emulsions business has 10
production facilities in Europe and North America and a leading
position in its respective markets. The Celanese Emulsions
buisness serves a wide variety of markets, including paints and
coatings, adhesives, non-wovens, glassfiber, construction, paper,
and textiles.
Celanese has been doing business in China since the 1960s and
began to establish joint ventures in China in the 1980s. It has
long-standing ventures in cellulose acetate and recently
established a new polyacetal engineering
plastics joint venture site in Nantong. In addition, Celanese operates a
trading company in Shanghai and offices throughout the mainland
China.
Celanese is currently building a 600,000 metric ton
acetic acid plant in the Nanjing Chemical Industry Park in
Nanjing, China.
The plant will be ready for production in late 2006 or early
2007. The company also recently announced the investment in a
world-scale 20,000 ton GUR(R) ultra high
molecular weight polyethylene (UHMW-PE) plant in Asia that will be operational in the
second half of 2007.
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 29 production plants, with major operations 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.
Dec 13, 2006 Celanese
Celanese Signs Agreement to Sell Oxo Products and Derivatives
Businesses to Advent International
Celanese Corporation today announced that it has entered into an
agreement to sell its oxo products and derivatives
businesses, including European Oxo GmbH (“EOXO”), a joint venture between
Celanese AG and Degussa AG, to Advent International, a
global private equity firm, for the purchase price of EUR 480
million, which is approximately USD $630 million at current
exchange rates. This sale is consistent with Celanese’s strategy to optimize its
portfolio and divest non-core businesses. ?
“Celanese
is committed to a hybrid business model with leading global
businesses that are integrated and focused around core strengths,”
said David Weidman,
president and chief executive officer. ?“This sale allows us to continue
our strategic execution to focus our portfolio and position
Celanese for strong, sustainable earnings growth and increased
value.” ??
The sale includes oxo and derivative businesses at Celanese’s Oberhausen, Germany, and Bay
City, Texas, facilities; and portions of its Bishop, Texas,
facility. ?EOXO’s facilities within the Oberhausen
and Marl, Germany, plants are also included in the sale. As part
of the transaction, Celanese will transfer all of the EOXO
business to Advent International, including Degussa’s 50 percent interest of the
venture.
“We
are confident that customer supply will not be disrupted as we
transition through this process,” Weidman said. “In addition, we believe that this
sale will allow Advent International to focus and further
strengthen these businesses in a manner consistent with customer
interests.”
“Leveraging
Advent’s industry sector knowledge, we
will work with this acquired business’ management team to integrate its
activities and accelerate growth,” said Ronald Ayles, Advent
International.
The oxo derivative chemicals business of Celanese, which has
approximately 1,100 employees, earns revenues of approximately
$700 million and has EBITDA margins of about 10 percent. ?EOXO, which has approximately 200
employees, has non-consolidated revenues of approximately $700
million and contributes $5 million to $10 million of equity
earnings to Celanese annually. The transaction is subject to
customary closing conditions, including consent from senior
secured lenders and regulatory approvals. ?
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 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. For more
information on Celanese Corporation, please visit the company's
website.
February 15 2007 Ticona
Ticona Selects Nanjing, China, for New GURR Plant
Ultra-High Molecular Weight Polyethylene Plant to Be Operational
in Second Half of 2008
Ticona, the engineering polymers business of Celanese
Corporation, announced today that it will locate a new GUR(R) ultra-high
molecular weight polyethylene (UHMW-PE) facility at the
Celanese integrated chemical complex in Nanjing, China.
The new, world-class 20,000 metric ton plant will increase the company’s global GUR UHMW-PE capacity to
90,000 metric tons and is expected to begin commercial operations
in the second half of 2008.
“As
the world’s leading producer of UHMW-PE, our
investment in Nanjing will further extend our global
manufacturing capability to meet our customers’
needs for quality
GUR products worldwide,” said David Postolowski, global GUR
business director.
Celanese is currently developing its fully integrated acetyls
complex at the NanjingIndustrial Park site, which consists of a 600,000
metric-ton acetic acid facility, a 300,000 metric-ton vinyl
acetate monomer plant and a 100,000 metric-ton acetic anhydride 無水酢酸 unit. The company is also constructing
specialty acetyl derivatives units to produce vinyl acetate
ethylene emulsions and conventional emulsion polymers.
“Locating
Ticona’s GUR plant at this integrated
complex will expand our substantial position in Asia,”
said Lyndon Cole,
president of Ticona and Celanese executive vice president. “As a region of tremendous economic
growth, Asia offers our customers rapid expansion opportunities,
and we intend to be able to deliver our products to them through
our established and growing presence in the region.”
About Ticona and
Celanese
Ticona Engineering Polymers is one of the businesses of Celanese
Corporation. Ticona produces and markets a broad range of
engineering polymers and achieved sales of $915 million in 2006.
Ticona has approximately 2,000 employees at production,
compounding and research facilities in the USA, Germany and
Brazil.
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
May 23 2007 Ticona
Ticona to create
new Customer Application Development Center in Shanghai
Wide range of
locally based services in Asia as part of global support network
Ticona, the
engineering polymers business of Celanese Corporation, announced
plans today at Chinaplas 2007 to create a Customer
Application Development Center in Shanghai. When completed, the new Center
will be part of a global support network that includes similar
Ticona centers in Kelsterbach, Germany, and Auburn Hills,
Michigan, USA.
"The future
Application Development Center confirms our long-term commitment
to China,” said Lyndon Cole, president of
Ticona. “We want to ensure that our
technical and application development in Asia is as strong and
all-encompassing as the support we now provide to our customers
in Europe and the Americas. Through customer-focused support for
the development of end-user applications and the transfer of
application know-how, we will help our customers add value to
their products,” Cole continued.
The Shanghai region
was chosen for the facility because many Ticona customers have
their headquarters and engineering facilities nearby. “When the Center is completed in
2008, we will offer a wide range of locally based services,”
explained Lindsey
Deal, Ticona director of Asia business development. These will
include support for product and mold design using computer-aided
engineering, process optimization based on injection molding
trials, material testing, troubleshooting and customer training. “The aim is to enable our customers
to develop and market their products efficiently and
cost-effectively,” concluded Deal.
In mid-May, Ticona
also held a ground-breaking ceremony in Nanjing, China for two
new production plants- one for GURR ultrahigh
molecular weight polyethylene (UHMW-PE) and the other for Celstran(R) long
fiber-reinforced thermoplastic (LFRT). Both facilities are being built
in the Nanjing Chemical Industrial Park adjacent to the Celanese
integrated acetyls complex. The LFRT facility will come on stream
in the first half of 2008, while the UHME-PE plant will be
completed in the second half of 2008. The new production
facilities will bring Ticona’s annual global capacity for GUR
to more than 90 000 tonnes and raise its annual global Celstran
LFRT capacity to more than 35 000 tonnes.
July 27 2007 Ticona
Celanese Selects
Frankfurt-Hoechst Industrial Park as Site for Ticonas Kelsterbach
Relocation
Celanese Corporation, a global, hybrid chemical company, today announced that Frankfurt-Hoechst Industrial Park has been selected as the new site for Ticona’s Kelsterbach production operations in Germany.
In November 2006, Celanese and Ticona, the engineered materials business of Celanese, along with Fraport, the operator of the Frankfurt airport, agreed that Ticona’s Kelsterbach chemical plant would relocate by mid-2011 in order to make room for an airport expansion.
Over the past several months, Ticona has engaged in an extensive screening process of potential sites for relocation of chemical production facilities.
“The Frankfurt-Hoechst Industrial Park site meets our key criteria for selection and will ensure Ticona’s future business success,” said Sandra Beach Lin, president, Ticona. “Over the next four years, we will construct the world’s largest, state-of-the-art polyacetal plant with an increased capacity relative to our current Kelsterbach facility. This plant will enable us to better serve our customers’ increasing demand in the future,” Lin said.
Ticona adds compounding
unit to Nanjing complex
The 15,000 tonnes a year operation to grow Ticona’s Asian footprint.
Ticona is to add an integrated compounding unit at the recently
opened plant of its parent company Celanese at
Nanjing, in China,
further extending its strong position in the Asian market.
The new 15,000 tonnes a year operation, scheduled to
start up in the first quarter of 2009, will produce advanced
engineered compounds for customers in the region in a variety of
the company’s engineering thermoplastics. The
polymers from which compounds will be made at the Nanjing plant
include Vectra liquid crystal polymers, Hostaform polyacetal,
Celanex thermoplastic polyester, Riteflex TPE and Fortron PPS.
The unit will support Ticona’s recently announced Application
Development Center in Shanghai enabling the company to translate
applications from other regions, according to Lindsey Deal,
business development director for Asia.
With investments both on a stand alone basis and with Asian
partners including affiliate Polyplastics, Ticona has been
developing a growing stable of engineering polymer capacity in
the region. Other recent investments include facilities for GUR
UHMWPE and Celstran LFT materials, both located at the Nanjing
site - Celanese’s biggest chemicals complex.
Vice president Roeland Polet said: “Our new compounding unit
represents another example of Ticona’s dedication to provide the same
brand experience to our Asian customers that they already enjoy
in the Americas and Europe.”
Ticona to Build Vectra LCP Unit at
Celanese’s Nanjing Integrated Chemical
Complex
Facility to be Operational in 2010
Ticona, the engineering
polymers business of Celanese Corporation, announced today that
it plans to build a new Vectra(R) liquid crystal polymer (LCP)
production facility co-located at the Celanese integrated
chemical complex in Nanjing, China. Construction is slated to
begin in the first half of 2009, and the facility is projected to
be operational in 2010.
“The
new Vectra facility is part of Ticona’s Asia growth strategy to directly
serve our customers in this region of impressive growth,”
said Sandy Beach
Lin, president, Ticona and executive vice president, Celanese. “The new facility will be Ticona’s fourth at the Nanjing complex.
In addition to manufacturing, we also provide technical and
commercial resources and facilities focused on customer
application development, specifically through our technical
center in Shanghai.”
Ticona currently
produces Celstran(R) long fiber reinforced
thermoplastic (LFRT) and GUR(R) ultra-high molecular weight
polyethylene (UHMW-PE) at the Nanjing complex. The GUR unit
successfully began commercial operations in July 2008. A
compounding unit is scheduled to be operational in early 2009.
“Our
ability to leverage on-the-ground resources at Nanjing and our
network of technical and sales support in China allows us to
accelerate our ability to drive growth for customers in Asia,”
Beach Lin said. “The new units at Nanjing, combined
with our established presence in Europe and North America, will
support our customers’ need to shift to non-halogenated
materials and give Ticona a global footprint to provide the same
brand experience to customers throughout the world.”