Celanese to sell its Acrylates business to The Dow Chemical Company
Celanese has reached an agreement to sell its Acrylates business to The Dow
Chemical Company.
As part of its strategy to focus on its core businesses, Celanese AG has signed
an agreement to sell its acrylates (acrylics) business product line, including
inventory, intellectual property and technology for crude acrylic acid, glacial
acrylic acid, ethyl acrylate, butyl acrylate, methyl acrylate and 2-ethyl hexyl
acrylate, as well as acrylics production assets at the Celanese Clear Lake,
Texas facility to The Dow Chemical Company. In 2002, this business generated
sales of approximately EUR 320 million. Celanese expects the sale to generate a
slight gain. In related agreements, Celanese will provide certain contract
manufacturing services to Dow, and Dow will supply acrylics to Celanese for use
in its emulsions production. The transaction remains subject to customary
closing conditions, including regulatory approvals.
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