Chemical and advanced materials maker
) announced that it plans to launch the sale process of two of
its facilities. The first one is the acetic anhydride facility in
Roussillon, France, with the second being its vinyl acetate
monomer (VAM) production unit in Tarragona, Spain.
The Roussillon site produces acetic anhydride with an annual
capacity of 34 kiloton (kt) and has an employment base of 30 full
time workers while the Tarragona VAM unit produces vinyl acetate
monomer with an annual capacity of 200 kt and employs 70 full
Celanese has announced plans based on completed assessment of
its overall corporate strategy, which included an appraisal of
its global manufacturing facilities. The company is also looking
for buyers who can incorporate these facilities into their own
manufacturing organizations. To help Celanese achieve this
objective, the Paris-based affiliate of JH Lillian & Co.
Inc., an advisor, specialized in the chemicals industry, will
lead the sale process for both the facilities.
CELANESE CP-A (CE): Free Stock Analysis
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Though the sale will be open to a number of candidates, the
buyers will be selected on the basis of specific criteria,
including the ability of the buyers to ensure sustainable
operations, retaining employees and their ability to meet certain
Celanese is among the world's largest producers of acetyl
products as well as the leading global producer of
high-performance engineered polymers. It currently carries a
short-term (1 to 3 months) Zacks Rank #1 (Strong Buy).
Other companies in the chemical industry that are worth
Shin-Etsu Chemical Co., Ltd.
). While both Shin-Etsu Chemical and Methanex retain a Zacks Rank
#1 (Strong Buy), FMC holds a Zacks Rank #2 (Buy).