Celanese to Acquire Vinamul Polymers from ICI's National Starch & Chemical
Celanese Corp. has agreed to acquire Vinamul Polymers, the emulsion polymers business of ICI plc's National Starch and Chemical Co., for $208 million, pending regulatory approvals. The Vinamul Polymers product line includes vinyl acetate-ethylene (VAE) copolymers, vinyl acetate homopolymers and copolymers, and acrylic and vinyl acrylic emulsions.
Vinamul Polymers' sales totaled $335 million in 2003, with an operating profit reported at $18 million. The business employs approximately 600 people and operates manufacturing facilities in the United States, Canada, the United Kingdom and The Netherlands. As part of the purchase agreement, National Starch will continue to supply Vinamul Polymers with starch, dextrin and other specialty ingredients.