Celanese Corporation (NYSE: CE), a global technology and specialty
materials company, is pleased to announce expansion of its polyacetal
(POM) manufacturing footprint in Asia to support its customers.
As part of its growth strategy, Celanese today announces continued
investment in, and expansion of, its joint venture agreements with
Polyplastics in Malaysia, Korea Engineering Plastics (KEP) in Korea, and
SABIC in Saudi Arabia. These agreements will deliver key POM grades
produced exclusively for Celanese customers in the Asia region, as
follows:
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Joint venture partner Polyplastics Asia Pacific Sdn. Bhd will increase
Celanese’s manufacturing footprint in Malaysia for POM production at
the plant in Kuantan, Pahang. The agreement with Polyplastics will
expand the capacity at this facility, with construction to be
completed in December 2013, and its operation expected to start in
early 2014.
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Joint venture partner Korea Engineering Plastics is expanding its
agreement with Celanese to provide POM grades at the Kepital POM
facility in Ulsan, Korea. The agreement with KEP will expand the
capacity at this facility and will be commissioned in the fourth
quarter of 2013.
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Celanese is also pleased to announce progress in the construction of
the POM plant in Saudi Arabia with its affiliate Ibn Sina. Recently,
the Engineering, Procurement and Construction (EPC) contract was
awarded to Dragados Industrial, S.A.
“The expansion of these joint venture agreements is a clear sign that
Celanese is committed to meeting the growing needs of our customers in
the Asia region,” said Phil McDivitt, vice president and general manager
of the Celanese engineered materials business. “We expect our position
as a direct producer, distributor and marketer of polyacetal materials
to grow in the Asia region with each of these joint venture agreements.
These developments will also enable Celanese to use the full breadth of
our chemistry, technology and product expertise to create value for our
customers.”
“Our partnerships with Polyplastics, KEP, and Ibn Sina are part of our
strategy to provide a high quality, diverse portfolio of polyacetal
products to our global customers with optimum lead times in their
respective regions. We also continue to grow our commercial, application
development and technical resources in Asia. The enhanced capacity and
growing resources will enable Celanese customers to speed up their
translation efforts in key transportation, consumer and industrial
applications in Asia,” said Isaac Khalil, global business director,
Celcon®/Hostaform® POM product line, Celanese
engineered materials business.
About Celanese
Celanese Corporation is a global technology leader in the production
of differentiated chemistry solutions and specialty materials used in
most major industries and consumer applications. With sales almost
equally divided between North America, Europe and Asia, the company uses
the full breadth of its global chemistry, technology and business
expertise to create value for customers and the corporation. Celanese
partners with customers to solve their most critical needs while making
a positive impact on its communities and the world. Based in Dallas,
Texas, Celanese employs approximately 7,600 employees worldwide and had
2012 net sales of $6.4 billion. For more information about Celanese
Corporation and its product offerings, visit www.celanese.com
or our blog at www.celaneseblog.com.
All registered trademarks are owned by Celanese International
Corporation or its affiliates.
Forward-Looking Statements
This release may contain “forward-looking statements,” which include
information concerning the company’s plans, objectives, goals,
strategies, future revenues or performance, capital expenditures,
financing needs and other information that is not historical information.
When used in this release, the words “outlook,” “forecast,”
“estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,”
“believes,” and variations of such words or similar expressions are
intended to identify forward-looking statements. All
forward-looking statements are based upon current expectations and
beliefs and various assumptions. There can be no assurance that
the company will realize these expectations or that these beliefs will
prove correct. There are a number of risks and uncertainties that
could cause actual results to differ materially from the forward-looking
statements contained in this release. Numerous factors, many of
which are beyond the company’s control, could cause actual results to
differ materially from those expressed as forward-looking statements.
These factors include the inability to obtain regulatory approvals of
the transaction and satisfy conditions on the proposed terms and
schedule and the possibility that the transaction does not close. Other
risk factors include those that are discussed in the company’s filings
with the Securities and Exchange Commission. Any forward-looking
statement speaks only as of the date on which it is made, and the
company undertakes no obligation to update any forward-looking
statements to reflect events or circumstances after the date on which it
is made or to reflect the occurrence of anticipated or unanticipated
events or circumstances.
Copyright Business Wire 2013