Celanese sale
Celanese today signed an agreement to sell its emulsion powders business to National Starch and Chemical Company and Elotex, both subsidiaries of ICI, for $25.5 million.
today announced that it signed an agreement to sell its emulsion powders business to National Starch and Chemical Company (NSC) and to Elotex, both subsidiaries of
, for $25.5 million.
Closing of the transaction is subject to regulatory review and approval.
The divestment is in line with Celanese’s strategy of focusing on those core businesses in which it holds leading market and technology positions.
The Celanese emulsion powders business recorded net sales of $40 million (€32 million) in 2004 and has about 50 employees, all based in
Redispersible emulsion powders are used in the building and construction industry, primarily for ceramic tile adhesives and surface coatings.
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