23 December 2009
23 December 2009
Celanese Corporation has acquired the long-fibre reinforced thermoplastics (LFT) business of FACT (Future Advanced Composites Technology) based in Kaiserslautern, Germany, a business unit of The Ravago Group.
The change of ownership is due to be completed on 31st December, 2009.
FACT produces long-fibre reinforced thermoplastics (LFT) which can be used in injection moulding, extrusion, compression moulding and blow moulding applications.
“Celanese continues to execute our strategy to build advantaged positions through strategic uses of cash for high-return projects to grow our business where we have sustainable advantages,” said David Weidman, Chairman and Chief Executive Officer, Celanese.
The acquisition will support Celanese’s Advanced Engineered Materials business segment, specifically Ticona Engineering Polymers, by building upon Ticona’s LFT process technology and broadening specific product offerings to improve the capability to grow with its customers through a new production site in Kaiserslautern.
“This acquisition will grow the company’s Celstran product line, expand industry coverage, and combine development capabilities of both companies to serve increasingly demanding customer and segment expectations in the automotive industry and in general industrial applications,” concluded Roeland Polet, Vice President, Ticona.
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