Celanese to Construct World-Scale Vinyl Acetate Monomer Plant in China; Announces New VAntage Plus(TM) Technology for Vinyl Acetate.DALLAS -- Celanese Corporation (NYSE NYSE See: New York Stock Exchange :CE), announced today that it will build a 300,000 metric ton, world-scale vinyl acetate monomer monomer (mŏn`əmər): see polymer. monomer Molecule of any of a class of mostly organic compounds that can react with other molecules of the same or other compounds to form very large molecules (polymers). (VAM VAM Vinyl Acetate Monomer VAM Vesicular-Arbuscular Mycorrhizae VAM Vitt Ariskt MotstÃ¥nd (Swedish: White Aryan Resistance) VAM Vitt Ariskt MotstÃ¥nd (Sweden) ) plant at the company's Nanjing, China chemical complex. The plant is expected to be operational in late 2007 or early 2008. "As the world's leading producer of VAM and other acetyl-based products, we believe it is important to have a manufacturing presence in the world's fastest growing region to supply our customers with a reliable, locally produced product," said David Weidman, president and chief executive officer. "This investment is consistent with our strategy to maintain our number one position in the VAM market." The VAM plant will receive acetic acid acetic acid (əsē`tĭk), CH3CO2H, colorless liquid that has a characteristic pungent odor, boils at 118°C;, and is miscible with water in all proportions; it is a weak organic carboxylic acid (see carboxyl group). , a key raw material, from Celanese's 600,000 metric ton acetic acid plant in Nanjing, which will begin commercial sales in early 2007. The company currently operates seven plants around the world to produce VAM, which is used to make such products as paints, coatings, adhesives and fibers. The company also announced today that in 2006 it will begin implementation of its next generation of VAM technology called VAntage Plus(TM). The new technology will further improve production efficiency and lower operating costs as it is phased into Celanese's VAM units over the next several years. In 2005, Celanese completed implementation of its VAntage(TM) technology in the last of its six ethylene-based VAM units. VAntage(TM) not only enhanced production efficiency, but also increased Celanese's overall VAM production capacity by 265,000 metric tons, equivalent to a world-scale unit, at 10 to 15% of the cost of building a grass-roots unit. Celanese Corporation (NYSE:CE) is an integrated global producer of value-added industrial chemicals based in Dallas, Texas. The Company has four major businesses: Chemicals Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has production plants in 13 countries, including facilities in North America, Europe and Asia. In 2004, Celanese Corporation and its predecessor had combined net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $5.1 billion. The presentation of combined net sales of Celanese Corporation with its predecessor is not in accordance with U.S. GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). . For more information on Celanese Corporation including a reconciliation of the combined net sales, please visit the company's web site at 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 the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company. |
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