Celanese to acquire two Ashland product lines, Vinac, Flexbond for undisclosed sum to support strategic growth of Celanese emulsion polymers; revenues for product lines were about US$45M in 2010
November 10, 2011
– Celanese Corporation (NYSE:CE - News), a global technology and specialty materials company and a global leader in emulsion polymers, today announced an agreement to acquire certain assets from Ashland Inc., including two product lines, Vinac® and Flexbond®, which will support the strategic growth of the Celanese Emulsion Polymers business. The transaction is expected to close within 60 days, subject to satisfaction of closing conditions. Terms were not disclosed. Revenues of Vinac® and Flexbond® were approximately US$45 million in 2010.
“Celanese is a global leader in emulsion polymers, and this acquisition broadens our innovative product offerings to support our customers in growth-oriented segments,” said Doug Madden, chief operating officer. “This transaction is consistent with our strategy to create shareholder value through strategic portfolio enhancements.”
“This acquisition will accelerate the growth of the Emulsion Polymers business throughout the Americas in key segments such as adhesives, textiles, coatings and paper,” said Phillip McDivitt, general manager, Celanese Emulsion Polymers. “The addition of Vinac® and Flexbond® will expand our product portfolio while building upon Celanese’s emulsion process technology at our Enoree, S.C., and Boucherville, Quebec, Canada, manufacturing facilities.”
Vinac® branded products are used to make a variety of adhesives for use in woodworking and paper packaging and converting applications. These vinyl-based polymers can be used to make water resistant wood glues and adhesives suitable for use with various kraft and coated paperboards.
Flexbond® branded products are used to make interior and exterior architectural paints. These paints exhibit characteristics such as scrub and stain resistance in interior paints and weather resistance in exterior formulas.
Celanese Corporation is a global technology leader in the production of specialty materials and chemical products which are used in most major industries and consumer applications. Our products, essential to everyday living, are manufactured in North America, Europe and Asia. Known for operational excellence, sustainability and premier safety performance, Celanese delivers value to customers around the globe with best-in-class technologies. Based in Dallas, Texas, the company employs approximately 7,250 employees worldwide and had 2010 net sales of $5.9 billion, with approximately 72% generated outside of North America. For more information about Celanese Corporation and its global product offerings, visit www.celanese.com.
About the Emulsion Polymers Business of Celanese
The Emulsion Polymers business of Celanese is a global leader in developing products and application technology to improve performance, create value and drive innovation in a broad range of industrial and consumer end-use applications including adhesives, coatings, engineered fabrics, glass fibers, paper, textiles and more. The business has manufacturing facilities worldwide and is supported by expert technical service regionally. More information about the Emulsions Polymers business of Celanese is available at www.celanese-emulsions.com.
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