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Celanese Completes Sale of PVOH Business to Sekisui Chemical

07 Jul 2009 - Celanese Corp. announced it has completed the sale of its polyvinyl alcohol (PVOH) business to Sekisui Chemical Co., Ltd. for the purchase price of approximately US$173 million, excluding the value of accounts receivable and payable retained by Celanese. Celanese announced its agreement to sell its PVOH business to Sekisui on April 27, 2009.
 
The sale includes the facilities in Calvert City, Ky., Pasadena, Texas, one unit within the complex at Tarragona, Spain, and resources from the company’s Houston Technology Center. In total, approximately 250 employees located at these operations, supported by personnel in administrative, technical and sales functions, will join Sekisui. In addition, the transaction includes long-term supply agreements between both companies.