Home Services Transactions Our Team Offices  

Celanese sells common shares in PEMEAS Fuel Cell Technologies

Dallas, December 29, 2005: The Celanese Corporation (CE: NYSE) concluded on December 28, 2005 the sale of its common shares in PEMEAS GmbH. The shares were acquired by PEMEAS GmbH. Further details of the transaction were not disclosed.

Celanese created the fuel cell joint venture known as PEMEAS GmbH in early 2004 with a consortium of private investors. In line with its strategy to divest non-core businesses, Celanese announced in January 2005 its intention to completely withdraw from this business.

Celanese Corporation (NYSE:CE) is an integrated global producer of value-added industrial chemicals based in Dallas, Texas. The Company has four major businesses Chemical Products, Technical Polymers Ticona, Acetate Products and Performance Products with production plants 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.

Copyright 2013 JH Lillian & Co. All rights reserved.