Celanese Corporation signs agreement to acquire Acetate Products Limited
Celanese Corporation announced that it has signed an agreement to purchase the business of Acetate Products Limited (APL), the cellulose acetate flake, tow and film activities of Corsadi BV. The transaction is subject to regulatory approvals and other customary conditions. Details of the purchase agreement were not disclosed.
The acquisition shall broaden the reach of Celanese's acetate products business and add balance to its global product supply. With approximately 750 employees and sales revenue of about $230 million in 2005, APL operates two manufacturing facilities in the United Kingdom that produce acetate flake, tow and film. "This strategic acquisition will enhance our acetate production integration and supply capabilities, particularly in Europe," said Douglas Madden, president of Celanese Acetate LLC. "The addition of the APL business will further improve the productivity of the Celanese Acetate products network and provide an even more cost-efficient and reliable supply to our customers globally."
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