Celanese Strengthens Polyacetal Manufacturing Footprint In Asia

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:
  • 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.
  • 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.
  • 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 2010

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