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Celanese to Sell Vectran Fiber Business
Dallas, April 7, 2005 (CE: NYSE): Celanese Corporation 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 is a fiber made from a liquid crystal polymer, which can be used to produce thermoplastic fibers and multifilament yarns.
Celanese Corporation (NYSE:CE) is an integrated global producer of value-added industrial chemicals based in Dallas, Texas. 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 of $5.1 billion. The presentation of combined net sales of Celanese Corporation with its predecessor is not in accordance with U.S. GAAP. For more information on Celanese Corporation including a reconciliation of the combined net sales, please visit the company's web site. nc.
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