Emulsion polymer manufacturer Celanese Corp to acquire assets and product lines from Ashland Inc

DALLAS TX, Nov. 10, 2011 (Press Release) - Celanese Corporation, a global technology and specialty materials company and a global leader in emulsion polymers, today announced an agreement to acquire certain assets from Ashland Inc., including two product lines, Vinac and Flexbond, which will support the strategic growth of the Celanese Emulsion Polymers business. The transaction is expected to close within 60 days, subject to satisfaction of closing conditions. Terms were not disclosed. Revenues of Vinac® and Flexbond® were approximately US$45 million in 2010.

"Celanese is a global leader in emulsion polymers, and this acquisition broadens our innovative product offerings to support our customers in growth-oriented segments," said Doug Madden, chief operating officer. "This transaction is consistent with our strategy to create shareholder value through strategic portfolio enhancements."

"This acquisition will accelerate the growth of the Emulsion Polymers business throughout the Americas in key segments such as adhesives, textiles, coatings and paper," said

Phillip McDivitt, general manager, Celanese Emulsion Polymers. "The addition of Vinac® and Flexbond® will expand our product portfolio while building upon Celanese's emulsion process technology at our Enoree, S.C., and Boucherville, Quebec, Canada, manufacturing facilities."

Vinac® branded products are used to make a variety of adhesives for use in woodworking and paper packaging and converting applications. These vinyl-based polymers can be used to make water resistant wood glues and adhesives suitable for use with various kraft and coated paperboards.

Flexbond® branded products are used to make interior and exterior architectural paints. These paints exhibit characteristics such as scrub and stain resistance in interior paints and weather resistance in exterior formulas.