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Sekisui Chemical to Acquire Celanese PVOH Business
8:12 AM MDT | May 4, 2009 | LINDSEY BEWLEY
Celanese says it has agreed to sell its polyvinyl alcohol (PVOH) business to Sekisui Chemical (Osaka) for $173 million, excluding the value of accounts receivables and payables. The deal includes facilities at Calvert City, KY; Pasadena, TX; and Tarragona, Spain. The deal also calls for a long-term supply agreement of vinyl acetate monomer (VAM), Celanese says. The sale is expected to be completed by mid-year. The PVOH business had 2008 sales of about $300 million, Celanese says. Celanese acquired the business from Air Products in 2000 and expanded it in...
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