Celanese, Push Group JV produce cellulose acetate-based products

Celanese, Push Group JV to produce cellulose acetate-based products

11:45 AM, 22nd December 2015
Celanese, Push Group JV to produce cellulose acetate-based products

DALLAS, US: Celanese Corporation said that it has entered into a Memorandum of Understanding (MoU) with Push Group Co Ltd (Push Group), with respect to the formation of a new joint venture focused on the production of cellulose acetate-based specialty products, including high-quality plastics and films.

The execution of the JV agreement and certain other remaining ancillary documents is expected to occur before the end of March 2016.

“This is an exciting opportunity for Celanese, together with Push Group, to add a specialty cellulose plastics focus to our leading cellulose acetate capabilities and our leading engineered thermoplastics platform, and participate in the development of the next generation of products manufactured with cellulose acetate flake,” said Scott Sutton, president, materials solutions, Celanese.

The companies have concluded the negotiation of the joint venture agreement that would govern their relationship and have agreed to extend the period of exclusivity related to formation of the project. Push Group would contribute certain existing cellulose acetate-related assets and Celanese would contribute certain technology and its leading cellulose acetate operational know-how and experience.

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