Celanese Divests PBI Business
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Celanese Corporation announced that it has sold the polybenzimidazole fiber and polymer business (PBI) to PBI Performance Products, Inc., an affiliate of The InterTech Group of North Charleston, SC, USA. The InterTech Group is a holding company and operator of a diverse, global group of companies. Terms of the transaction were not disclosed.
The divestiture of PBI is in line with the strategy of Celanese to continuously focus on its core chemicals and technical polymers businesses.
PBI is a heat and flame resistant fiber and polymer used in a multitude of high-temperature applications.