Celanese to close France acetic acid and VAM site by December

08 July 2009 15:14  [Source: ICIS news]

TORONTO (ICIS news)--Celanese expects to stop all production of acetic acid and vinyl acetate monomer (VAM) at its site in Pardies, France, by December, the US-based chemicals major said on Wednesday.

The announcement follows an agreement Celanese reached with the site’s works council, it said.

Celanese first said in January it was considering closing the site, which it acquired as part of its takeover of Canada’s Acetex in 2005.

Closure expenses for Pardies were around $90m-100m (€65m-72m), which Celanese would record in the second half of 2009, it said

The Pardies site has capacities of 450,000 tonnes/year of acetic acid and 150,000 tonnes/year of VAM.

($1 = €0.72)

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By: Stefan Baumgarten
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