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Celanese to Sell Its PVOH Business to Japanese Firm

2:02 AM MDT | April 28, 2009 | Lindsey Bewley

Celanese says it has agreed to sell its polyvinyl alcohol (PVOH) business to Sekisui Chemical (Osaka). The deal includes Celanese’s facilities at Calvert City, KY and Pasadena, TX, and one unit at Tarragona, Spain, and it is expected to be completed by mid-2009, the company says. “This transaction increases our flexibility and further focuses our integrated acetyl chain,” says David Weidman, chairman and CEO at Celanese. The company’s PVOH business had sales of about $300 million in 2008, Celanese...

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