November: Celanese announces TCX, its newly developed advanced technology to produce ethanol. This innovative, new process combines our proprietary and industry-leading acetyl platform with highly advanced manufacturing technology to produce ethanol from hydrocarbon-sourced feed stocks. The company also announces its intention to construct manufacturing facilities in China and the U.S. to utilize this technology.
May: Celanese announces the acquisition of two product lines, Zenite® liquid crystal polymer (LCP) and Thermx® polycyclohexylene-dimethylene terephthalate (PCT), from DuPont Performance Polymers.
December: Celanese announces the acquisition of the long-fiber reinforced thermoplastics (LFT) business of FACT GmbH (Future Advanced Composites Technology) of Kaiserslautern, Germany, a business unit of The Ravago Group.
September: Celanese opens the integrated chemical complex in Nanjing, China. The complex, located at the Nanjing Chemical Industrial Park, brings world-class scale to one site for the production of acetic acid, vinyl acetate monomer, acetic anhydride, emulsions, Celstran® long fiber-reinforced thermoplastic (LFRT) and GUR® ultra-high molecular weight polyethylene (UHMW-PE).
August: Celanese announces the sale of the Films business‘s AT Plastics subsidiary to British Polythene Industries PLC.
June: The company completes the sale of its polyvinyl alcohol (PVOH) business to Sekisui Chemical Co., Ltd.
April: Celanese signs an agreement to form a 50/50 joint venture with Hebei Shield Technology Co. Ltd., a subsidiary of Tianjin Shield Fine Chemical Company Limited, to manufacture, distribute and sell the vinyl ester of neodecanoic acid.
March: the company announces strategic partnership with Accsys Technologies for innovative use of acetyl products.
Celanese initiates production of vinyl acetate monomer, acetic anhydride, vinyl emulsions, and ultra high molecular weight polyethylene at its Nanjing, China complex.
September: Celanese opens integrated chemical complex in Nanjing, China. The complex, located at the Nanjing Chemical Industrial Park, brings world-class scale to one site for the production of acetic acid, vinyl acetate monomer, acetic anhydride, emulsions, Celstran® long fiber-reinforced thermoplastic (LFRT) and GUR® ultra-high molecular weight polyethylene (UHMW-PE).
April: Celanese signes an agreement to form a 50/50 joint venture with Hebei Shield Technology Co. Ltd., a subsidiary of Tianjin Shield Fine Chemical Company Limited, to manufacture, distribute and sell the vinyl ester of neodecanoic acid.
January: Celanese finalizes divestiture of its oxo products and derivatives businesses to Advent International. The sale is consistent with Celanese’s strategy to optimize its portfolio and divest non-core businesses. Celanese completes the acquisition of the cellulose acetate flake, tow and film business of Acetate Products Limited.
December: Celanese announces plans to relocate strategic management of Acetyls business to Shanghai, China. This step strengthens and grows the company’s already strong position in Asia.
November: Celanese reaches a settlement with Frankfurt Airport to relocate Celanese’s Kelsterbach, Germany business, resolving several years of legal disputes related to the planned Frankfurt airport expansion.
December: Celanese sells COC business to a venture between Daicel and Polyplastics. Celanese also sells its common stock interest in Pemeas GmbH to Pemeas Corporation.
November: Celanese announces its intention to initiate a squeeze-out of Celanese AG shares, subject to an approval by the Annual General Meeting of Celanese AG in 2006.
August: Celanese Europe Holding, a subsidiary of Celanese Corporation, acquires approximately 11% of Celanese AG shares from two financial investors and thus reaches the threshold of 95% to pursue a squeeze-out of Celanese AG. Celanese announces the intention to pursue Estech, a venture with Hatco Corporation for neopolyol esters.
July: The European Commission grants unconditioned approval for the acquisition of Acetex Corporation and Celanese starts integration process of the new employees and sites.
During the spring and summer of this year Celanese pursues the strategy of focusing on its core chemicals and technical polymer businesses. The company holds leading market and technology positions by divesting smaller businesses like the polybenzimidazole fiber, polymer businesses PBI, the polyarylate fiber business Vectran and the emulsion powders business.
February: Celanese finalizes acquisition of the emulsion polymers company, Vinamul Polymers, and begins integration of sites in the U.S. and Europe into the Celanese Emulsions business.
January: Following a successful initial public offering (IPO), Celanese Corp. becomes a publicly traded corporation on the New York Stock Exchange (NYSE: CE).
November: Celanese announces plans to purchase Vinamul Polymers, the emulsion polymer business of the ICI subsidiary National Starch and Chemical Company (NSC), for $208 million. The acquisition diversifies Celanese’s product offering with higher-value chemicals that are customized for end-use applications.
Blackstone Crystal Holdings Capital Partners (Cayman) IV Ltd. (the controlling legal entity of Celanese subsequent to the successful takeover of Celanese AG by Blackstone) changes its name to Celanese Corporation.
Celanese Corp. is headquartered in Dallas, Texas, and is the parent company of Celanese’s North American operations and Celanese AG. Henceforth, Celanese AG is the holding company for Celanese’s European operations and most of its Asian activities.
October: Blackstone signs an agreement for the takeover of Acetex Corporation in a transaction valued at almost $500 million and states its intention to operate Acetex as part of Celanese’s global chemicals business. Acetex is a Canadian corporation which produces a variety of chemicals including acetic acid, polyvinyl alcohol, vinyl acetate monomer and technical polymers.
Plans are announced to implement a strategic restructuring of the Acetate business. As a part of the restructuring, acetate filament production is to be discontinued by mid-2005 and acetate flake and tow operations are to be consolidated at three locations, instead of five.
The beginning of the year sees a total of 84.32% Celanese shares tendered and all conditions for the successful conclusion of the takeover by Blackstone are satisfied. In July, Celanese AG shares are delisted from the New York Stock Exchange (NYSE). Following an extraordinary shareholders’ meeting, a domination and profit loss transfer agreement between Celanese AG and Blackstone is entered into the Commercial Register and becomes effective on October 1.
Celanese agrees to sell its acrylates business to Dow Chemical.
The joint venture of oxo businesses with Degussa AG is completed.
Preparations to build a world-scale 600,000 metric ton acetic acid plant in China begin. Celanese announces an agreement with China National Tobacco Corporation to double capacities of three acetate tow joint ventures. Groundbreaking begins with Asian partners for new 60,000 metric ton polyacetal plant in China.
An agreement is put in place to source methanol from Southern Chemical Corporation to reduce overall exposure to U.S. Gulf Coast natural gas volatility.
December: Blackstone Capital Partners announces intention to launch a voluntary public offer to acquire all of the outstanding shares of Celanese AG.
Celanese acquires of European emulsions and global emulsion powders business from Clariant AG. There is a divestiture of Trespaphan oriented polyproplyene film business.
A 50/50 joint venture forms with Hatco Corporation for the production and marketing of neopolyol esters.
Celanese celebrates 75th anniversary of Ruhrchemie site in Oberhausen, Germany.
A significant technological progress leads to process improvements in acetic acid and vinyl acetate monomer. Therefore construction begins on a new and expanded Ticona plant to produce GUR ultra-high molecular weight polyethylene.
The acquisition of polyvinyl alcohol business from Air Products strengthens the acetyl chain. The building of a 500,000 metric ton acetic acid plant begins in Singapore, while the start-up of a plant for the newly engineered COC cycloolefin copolymer begins in Germany.