Celanese

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Celanese (NYSE: CE) is a large American chemical company based in Dallas, Texas.

Celanese was the name for a new synthetic fiber first spun in 1921. The company later was named Celanese Corporation of America, then shortened to Celanese Corp. In 1987, this company merged with American Hoechst to form a Hoechst subsidiary in the US, Hoechst Celanese. It produced chemicals,fibers, pharmaceuticals and plastics, such as the thermoplastic cellulose acetate used to produce cigarette filters.<ref>http://www.ftc.gov/opa/1999/12/hoechst.htm</ref>

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Celanese is an integrated global producer of value-added industrial chemicals and has #1 or #2 market positions worldwide in products comprising the majority of its sales. It is also the world's largest producer of acetyl products, including acetic acid, vinyl acetate monomer (VAM) and polyacetals (POM) and a leading global producer of high-performance engineered polymers used in consumer and industrial products and designed to meet highly technical customer requirements. Its operations are located in North America, Europe and Asia, including substantial joint ventures in China. Celanese believes it is one of the lowest-cost producers of key building block chemicals in the acetyls chain, such as acetic acid and VAM, due to its economies of scale, operating efficiencies and proprietary production technologies.

In 2004, Celanese generated sales of around US$ 5.07 billion and had about 9,000 employees.

In 2005, Celanese generated net sales of around US$ 6.1 billion and had about 9,300 employees.

[edit] Celanese Canada Closure

In April, 2004, The Blackstone Group aqquired more than 80% of the voting shares of Celanese AG.<ref>http://www.celanese.com/index/ir_index/ir_celanese_ag.htm</ref>

In 2004, Celanese AG announced the cutting of over 1000 jobs worldwide, over 300 of those from the Celanese Canada plant site in Edmonton, Alberta.

July 5, 2006, Epcor, an energy plant located next to the Edmonton Celanese Canada plant filed suit against Celanese due to alleged leaking of chemicals into Epcor property.