Celanese Agrees to Sell Global Allylamines and U.S. Alkylamines Businesses to U.S. Amines Ltd.
Celanese Chemicals announced the sale of its global allylamines and U.S. alkylamines businesses to U.S. amines 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 EUR50 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.
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