Celanese Agrees to Sell Global Allylamines and U.S. Alkylamines Businesses to U.S. Amines Ltd.Business Editors DALLAS--(BUSINESS WIRE)--Dec. 11, 2002 Celanese Chemicals today announced the sale of its global allylamines and U.S. alkylamines businesses to U.S. Amines amines (  mēnz´),n.pl organic compounds that contain nitrogen. Ltd. The sale is consistent with Celanese's strategy of streamlining its chemical intermediates business. As part of the transaction, Celanese will also sell its U.S. manufacturing sites in Bucks, Alabama and Portsmouth, Virginia to U.S. Amines Ltd., which will continue production at both sites. Celanese will no longer have any operations at those sites. Most of the approximately 65 employees at Bucks and Portsmouth will transition to U.S. Amines Ltd. There are no service disruptions anticipated as a result of the transfer of the operations. The transaction is expected to be closed as of December 31, 2002. Alkylamines and allylamines are used as basic materials, predominantly in agro chemicals but also in rubber processing, water treatment chemicals, pharmaceuticals and others. The businesses to be sold generate sales of approximately EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 50 million annually. Celanese will continue to produce and market amines products, such as methylamines, alkylamines and a broad variety of specialty amines, at sites in Oberhausen, Germany and Cangrejera, Mexico. Terms of the sale were not disclosed. Celanese AG is a global chemicals company with leading positions in its key products and world class process technology. The Celanese portfolio consists of five main businesses: Acetyl acetyl /ac·e·tyl/ (as´e-til) (as´e-tel?) (ah-se´til) the monovalent radical CH3COsbond, a combining form of acetic acid. a·ce·tyl n. Products, Intermediates, Acetate Products, Technical Polymers Ticona and Performance Products. Celanese generated sales of around EUR 5.1 billion in 2001 and has about 11,700 employees. The company has 30 production plants and five research centers in 11 countries mainly in North America, Europe and Asia. Celanese AG shares are listed on the Frankfurt stock exchange Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. (stock exchange symbol CZZ CZZ Chazan-Ziv-Zakai Bound ) and on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (symbol CZ). For further information please visit our website (www.celanese.com) Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in Celanese AG's filings with the Securities and Exchange Commission, copies of which are available from Celanese AG. |
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