Celanese completes acquisition of Ashland emulsion product lines

03 January 2012 19:05  [Source: ICIS news]

HOUSTON (ICIS)--Celanese has completed its acquisition of certain emulsion product lines from Ashland, the US-based chemical producers said in separate statements on Tuesday.

The deal involved Ashland’s polyvinyl acetate (PVA) homopolymer and copolymer business, including the Flexbond and Vinac emulsions.

Celanese and Ashland announced the deal in November.

Ashland said that as part of transfering the business, it would temporarily toll-manufacture Flexbond and Vinac for Celanese.

Phillip McDivitt, general manager of Celanese's emulsion polymers business, said the acquisition would accelerate Celanese’s growth of emulsion polymers in the Americas.

“As we begin integrating these businesses into our product portfolio, we look forward to servicing our new customers and working with them to ensure a smooth transition,” McDivitt added.

Financial terms were not disclosed.

Ashland also recently agreed to sell its aviation and refrigerant lubricants business to US-based Monument Chemical.

Ashland's divestments follow its recent acquisition of International Specialty Products (ISP), a move that will allow the company to tap into growing markets for food and beverages, personal care products and pharmaceuticals.

For more on Ashland, Celanese and other producers visit ICIS company intelligence

By: Stefan Baumgarten
+1 713 525 2653

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