Acquisitions, investments priority for Celanese

05 February 2008 18:09  [Source: ICIS news]

HOUSTON (ICIS news)--US acetyls producer Celanese could spend cash on acquisitions and existing businesses, the company's chief executive said on Tuesday in a fourth-quarter earnings conference call.

"We like acquisitions. We like being focused on growing and following our strategy," said David Weidman, company chief executive.

He described potential acquisitions as being strategic, bolt-on and centre of the fairway.

Debt repayment would be at the bottom of Celanese's priorities, due to the company's expectations on future cash growth, Weidman said.

Dividends and share buybacks would lay between acquisitions and debt repayment in terms of priorities, he said.

By: Al Greenwood
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