Dow Completes Acquisition of Celanese Acrylates Business
In addition to the Clear Lake plant, the acquisition includes the technology of Celanese's Boehlen, Germany, plant. Dow also operates acrylates facilities at the Union Carbide St. Charles Operations in Louisiana.
In related agreements, Celanese will provide certain contract-manufacturing services to Dow, and Dow will supply acrylates to Celanese for use in its emulsions production.
Celanese said the agreement reflects the company's plan to develop a "more focused" portfolio and provides the company with a raw material supply from Dow for Celanese's recently acquired emulsions business in Europe.
Dow said the proposed acquisition expands its acrylics businesses into a complete, integrated acrylic acid chain, giving the company a "major presence in higher-value, less-cyclical, downstream markets." In addition, the company said the acquisition provides a more competitive raw-material cost position for other Dow units that use acrylic acid.