09.12.2005 09:49:00
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Celanese Signed Contract with Daicel and Polyplastics on Sale of Topas(R) - COC Business
Financial terms were not disclosed. Final conclusion of the dealis expected at the end of 2005, pending approval by regulatoryauthorities.
The COC business has approximately 100 employees at production andresearch facilities primarily in Oberhausen and Frankfurt, Germany, aswell as in the USA.
Celanese subsidiary Ticona markets COC under the brand nameTopas(R).
Celanese Corporation (NYSE:CE) is an integrated global producer ofvalue-added industrial chemicals based in Dallas, Texas. The Companyhas four major businesses Chemical Products, Technical PolymersTicona, Acetate Products and Performance Products with productionplants in North America, Europe and Asia. In 2004, CelaneseCorporation and its predecessor had combined net sales of $5.1billion. The presentation of combined net sales of CelaneseCorporation with its predecessor is not in accordance with U.S. GAAP.For more information on Celanese Corporation including areconciliation of the combined net sales, please visit the company'sweb site at www.celanese.com.
Daicel Chemical Industries, Ltd. Japan, is an integrated chemicalproducer, founded in 1919. The company is involved in the cellulose,organic chemical and synthetic resin businesses, while also developingnew business based on those technologies. Daicel employed 2,400workers and generated sales of 281,739 million Yen in the businessyear ending March 2004.
Polyplastics Co., Ltd., Japan, is a joint venture between DaicelChemical Industries Ltd. and Ticona, holding interests of 55% and 45%respectively. The company is a leading Asian supplier of engineeringpolymers with annual consolidated sales in 2004 of 81.7 billion Yenand approximately 1,500 employees worldwide.
Forward-looking statements (statements which are not historicalfacts) in this release are made pursuant to the safe harbor provisionsof the Private Securities Litigation Reform Act of 1995. Investors arecautioned that all forward-looking statements involve risks anduncertainties, including those risks and uncertainties detailed in theCompany's filings with the Securities and Exchange Commission, copiesof which are available from the Company
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