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MEDIA INFORMATION CELANESE AG Frankfurter Strasse 111
Media Relations 61476 Kronberg/Ts.
Telefax: +49 (0)69/305-84160
2000-09-05
Your Contacts:
Ralf Christner Dr. Hans-Bernd Heier
Phone: +49 (0)69/305-84040 Phone: +49 (0)69/305-7112
[email protected] [email protected]
Phillip Elliott Andrea Stine (USA)
Phone: +49 (0)69/305-33480 Phone: ++1 908 522 7784
[email protected] Fax: +1 908 522 7583
[email protected]
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CELANESE AG BUYS AIR PRODUCTS' POLYVINYL ALCOHOL BUSINESS; ACQUISITION TO
STRENGTHEN CELANESE LEADERSHIP IN ACETYLS
As part of its strategy to extend its acetyls value chain forward to
include higher value added products, Celanese AG today announced that it has
signed an agreement to purchase the assets of the polyvinyl alcohol business of
Air Products and Chemicals, Inc. (APCI) for $326 million ((euro)359 million).
Celanese's vinyl acetate monomer is a key raw material for polyvinyl alcohol, a
performance chemical used in adhesives, safety glass, textile processing, paper
and building products. The acquisition is subject to government approvals, which
are expected by the end of September.
"With this acquisition, Celanese is accomplishing several objectives:
We are building on our strengths in acetyls chemistry, sustaining our market
leadership in vinyl acetate, and complementing our strong portfolio of commodity
chemicals with a more profitable and less cyclical product. We are also pleased
to be taking a highly motivated and professional team on board," says Claudio
Sonder, chief executive officer of Celanese AG. "Polyvinyl alcohol is the
natural extension to our acetyls value chain."
Celanese is acquiring the number one producer of polyvinyl alcohol in
North America and the number two producer in the world. Its two plants in
Pasadena, Texas, and Calvert City, Ky., have a combined capacity of about 90,000
metric tons per year, or 11 percent of the global industry
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Date: 2000-09-05
capacity, and employ approximately 200 people. The business had sales of
(euro)220 million over the past 12 months.
Celanese's acetyls chain starts with the manufacture of methanol, which
is used to make acetic acid. Acetic acid is, in turn, a key raw material for
vinyl acetate, acetate esters, acetic anhydride and acetaldehyde, all of which
are produced by Celanese.
Based in Kronberg, Germany, Celanese AG is a leading global chemicals
company with sales of about (euro)4.3 billion in 1999. Its five main businesses
are Acetyl Products, Acetate Products, Chemical Intermediates, Technical
Polymers and Performance Products, which consists of oriented polypropylene
films and food ingredients. The company has 13,900 employees and has 32
production plants and five research centers in eight countries mainly in North
America, Europe and Asia. Celanese AG shares are listed on the Frankfurt Stock
Exchange under the symbol CZZ and on the New York Stock Exchange under the
symbol CZ.
PLEASE NOTE: At 4:00 p.m. CET, you have the opportunity to listen in on
a conference call in English with Celanese AG CEO Claudio Sonder and CFO Perry
Premdas under the following number:
0044 208 515 2305.
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 Celanese AG's filings with the Securities
and Exchange Commission, copies of which are available from the Company
Celanese AG is a global chemicals company with leading positions in its
key products and world class process technology. The Celanese portfolio consists
of
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Date: 2000-09-05
five main businesses; Acetyl Products, Intermediates, Acetate Products,
Technical Polymers Ticona and Performance Products. The Performance Products
business consists of OPP polypropylene films, sweeteners and food ingredients.
Celanese generated sales of around (euro) 4.3 billion (excluding
discontinued operations) in 1999 and employs about 13,900 people. The company
has 32 production plants and five research centers in eight 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).
For further information please visit our website (www.celanese.com)
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THE POLYVINYL ALCOHOL BUSINESS BRINGS CELANESE CLOSER TO DOWNSTREAM MARKETS
[FLOW CHART]
Natural Gas Methanol Acetic Vinyl Polyvinyl Other
Acid Acetate Alcohol Downstream
Markets
A NATURAL EXTENSION TO OUR VALUE CHAIN
