Celanese to Sell Vectran Fiber Business.DALLAS -- Celanese Corporation (NYSE NYSE See: New York Stock Exchange :CE) today announced the sale of its Vectran polyarylate fiber business to Kuraray America Inc., a subsidiary of Kuraray Co., Ltd., Japan. Vectran had annual sales of approximately $6 million in 2004. The sale is consistent with Celanese's continuing efforts to focus on core chemical and engineering plastics businesses. Terms of the sale were not disclosed. Vectran(R) is a fiber made from a liquid crystal polymer Liquid crystal polymers (LCPs) are a unique class of wholly aromatic polyester polymers that provide previously unavailable high performance properties. In particular, they are highly inert chemically and highly resistant to fire. , which can be used to produce thermoplastic A polymer material that turns to liquid when heated and becomes solid when cooled. There are more than 40 types of thermoplastics, including acrylic, polypropylene, polycarbonate and polyethylene. fibers and multifilament yarns. Celanese Corporation (NYSE:CE) is an integrated global producer of value-added industrial chemicals based in Dallas. The Company holds #1 or #2 market positions in products comprising the majority of its sales and has four major businesses: Chemicals Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has 29 production plants, with major operations 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. |
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