Celanese Corporation Announces Strategic Partnership with Accsys Technologies for Innovative Use of Acetyl Products
Dallas, March 28, 2007 – Celanese Corporation (NYSE: CE), a global, hybrid chemical company, today announced that it has entered into a strategic partnership with Accsys Technologies PLC, and its subsidiary Titan Wood, for application of Celanese’s core acetyl products in Accsys’ proprietary AccoyaTM wood production process. Celanese, a leading global producer of acetic acid and acetic anhydride, will become the exclusive supplier of acetyl products to Titan Wood’s technology licensees for use in wood acetylation. Celanese will also make an equity investment of approximately USD $29.5 million in Accsys Technologies (London Stock Exchange AiM: AXS).
“Celanese is committed to growth and innovation, and this strategic partnership is an exciting area for us to apply our core products in an innovative application that can be deployed anywhere in the world,” said John O’Dwyer, president, Celanese Acetyls and Celanese Asia. “We view this as a solution to bring Celanese’s intermediate chemical products into more consumer applications. This innovative process also offers the global market more environmentally sustainable building materials.”
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