Celanese to Acquire Certain Assets and Product Lines from Ashland
Nov. 11, 2011 - Celanese Corp. [yesterday] 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 deal is expected to close within 60 days, subject to satisfaction of closing conditions. Terms were not disclosed.
"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.
According to Celanese, revenues of Vinac and Flexbond were approximately US$45 million in 2010.
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.
SOURCE: Celanese Corp.