DALLAS and KELSTERBACH, Germany Celanese Corporation (NYSE: CE), a leading, global chemical company, today announced the acquisition
of the long-fiber reinforced thermoplastics (LFT) business of FACT GmbH (Future Advanced Composites
Technology) of Kaiserslautern, Germany, a business unit of The Ravago Group.
Completion
of the change of ownership will occur on December 31, 2009. Financial details of the transaction were
not disclosed.
FACT is a leading producer of long-fiber reinforced thermoplastics
(LFT) used in injection moulding, extrusion, compression moulding and blow moulding applications.
“Celanese
continues to execute our strategy to build advantaged positions through strategic uses of cash for high-return
projects to grow our business where we have sustainable advantages,” said David Weidman, chairman and
chief executive officer, Celanese.
The acquisition will support Celanese’s
Advanced Engineered Materials business segment, specifically Ticona Engineering Polymers, by building
upon Ticona’s LFT process technology and broadening specific product offerings to improve the capability
to grow with its customers through a new production site in Kaiserslautern.
“This
acquisition will grow the company’s Celstran® product line, expand industry coverage, and combine development
capabilities of both companies to serve increasingly demanding customer and segment expectations in
the automotive industry and in general industrial applications,” concluded Roeland Polet, vice president,
Ticona.
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Contacts:
Investor
Relations
Mark Oberle
Phone: +1 972 443 4464
Telefax:
+1 972 332 9373
Mark.Oberle@celanese.com
Media Americas
Travis Jacobsen
Phone: +1 972 443 3750
Telefax:
+1 972 443 8519
William.Jacobsen@celanese.com
Media Europe
Jens Kurth
Phone: +49-(0) 6107-772-1574
Telefax:
+49-(0) 6107-772-7231
J.Kurth@celanese.com