ICI Synetix buys Celanese's 'CelActiv' catalyst business

05 January 2001 11:28  [Source: ICIS news]

LONDON (CNI)--Synetix, a subsidiary of UK chemicals group ICI, is to acquire Celanese's CelActiv catalyst activities, which includes the manufacturing assets associated with the Hoecat catalyst business, it was announced on Friday.

Synetix bought the sales and marketing rights to Hoecat catalysts from Germany's Celanese a year ago, but Celanese continued to produce the catalysts at its plant in Oberhausen.

Under the agreement signed today, Synetix will purchase the Oberhausen plant, which produces both products. Synetix will run the operations at the Oberhausen site, which is some 60 km (37 miles) from its Emmerich site. About 50 employees will transfer to Synetix.

Germany-based Celanese said Friday that sale, which marks its exit from the catalysts business, is expected to close early this year. No financial details of the deal were disclosed.

Celanese is exiting the catalyst business, which is profitable, to concentrate on its larger businesses, a company spokeswoman said. The CelActiv and Hoecat businesses generate sales of about DM27m ($13.0m/Euro13.8m).

Bob Coxon, Synetix chief executive, commented: "This deal will allow us to produce improved products and meet the increased demands of our customers worldwide."

Hoecat catalysts are used in the production of oleochemicals and edible oils, while CelActiv catalysts are used in the manufacture of chemicals.

By: Anna Jagger
+1 713 525 2653

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 30 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly