Celanese reviews strategic options for its omega-3 DHA business
Celanese announced, that it is reviewing strategic options for the omega-3 DHA business of Nutrinova and the related biotech platform, including the possibility of selling the business. This decision is in line with the policy of Nutrinova, the performance products business of Celanese Corporation, to continue executing its strategy of focusing on its core sweetener and food protection business.
Several companies have already indicated interest in Nutrinova's DHA business, as they are aware of the increasingly growing omega-3 market and the excellent features microalgae-derived Nutrinova® DHA offers. The product is gaining market acceptance and has the potential of becoming a prominent health-enhancing food ingredient. This is emphasized by a number of recent worldwide product launches in the functional foods and dietary supplements segments. The omega-3 market has become very attractive due to its high growth rates. Based on the numerous advantages of microalgae-derived omega-3 PUFA, the growth rates of these oils are expected to even outstrip other omega-3 sources such as marine fish oils.
Celanese has engaged Navigant Capital Advisors, LLC, a subsidiary of Navigant Consulting, Inc., as its financial advisor to evaluate strategic alternatives for the omega-3 DHA business, including management of discussions with interested parties. It is Celanese' intention to take a decision regarding the future of the business by the end of the third quarter of 2005.
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