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People & Business :: Companies

Celanese in Wood Preservation Deal

1:44 PM MDT | July 24, 2007 | Chemical Week Editorial Staff

Celanese says it has agreed to buy 5.5%, or 8.1 million shares, in wood preservation company Accsys (London) for €22 million ($29.5 million). Celanese has an option to increase its share to 29.9% at Accsys’s share price at the time of any deal. Celanese says it has also signed an exclusive agreement to supply acetyls to Accsys, which will enable Accsys to supply licensees of its proprietary wood production process. Accsys’s technology “is the first of its kind,” and provides low-grade wood with high-grade wood properties, Celanese CEO...

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