Celanese purchases emulsions and powders
27 Sep 2002
Celanese has agreed to purchase the European emulsions and global emulsion powders business of Clariant for CHF213.5 million (147 million Euros).
The assets to be purchased by Celanese generated sales of approximately CHF450 million (300 million Euros) in 2001, mostly from products sold under the Mowilith brand.
Products include conventional water-based emulsions, high-pressure vinyl acetate ethylene (VAE) emulsions, and powders made from the emulsions for use in construction applications such as tiling adhesives.
Employing 700 people, the emulsions and emulsion powders business has four production facilities as well as 11 sales offices and seven research and technology centres. Two of the production facilities are located in Germany and Spain, in close proximity to Celanese plants that supply chemical ingredients for emulsions.
The Clariant acquisition is to become part of the Acetyl Products segment of Celanese. Celanese expects the new business to be earnings and cash flow positive in 2003.
