Celanese Corporation is a specialty materials and global technology leader in the production of differentiated chemistry solutions and manages its business with a focus on innovation, productivity, safety, performance, and results. It operates through the following segments: advanced engineered materials, consumer specialists, industrial specialists, and acetyls intermediates. Celanese is principally focused on developing its acetic acid business across the world. The company focuses on expanding its business by entering into joint ventures with the top players to enhance its customer base and augment its sales. As part of its growth strategy, the company signed a long-term agreement with Mitsui & Co., Ltd. for setting up 1.3 million tons plant to manufacture methanol. Mitsui & Co., Ltd. and Celanese Corporation will have a 50% share of this JV. This development accelerated its efforts towards enhancing its capabilities to deliver innovative solutions for addressing the global needs.
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In June 2011, the Eastman Chemical Company announced that it had entered into a merger agreement to acquire Sterling Chemicals Inc., for $100 million in cash. The transaction includes Sterling’s plasticizer and acetic acid manufacturing facility in Texas City, Texas. As a part of its business strategy, the company focuses on enhancing its expertise and innovation in acetyl stream in the key markets. The company engages in R&D initiatives to develop new products and find new applications for its existing products and to reduce its costs. It has also licensed its technologies to manufacture acetyl products that enable it to garner significant revenue through licensed agreements.
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LyondellBasell is one of the world’s premier plastics, refining, and chemical companies. LyondellBasell has assembled a balanced, integrated product portfolio comprising four major business segments, namely reefing, olefins and polyolefin, intermediates & derivatives, and technology. LyondellBasell manages acetic acid business through intermediates & derivatives business segment.
The company operates globally with 55 manufacturing sites located across five continents. LyondellBasell entered into a 10 year agreement with Oiltanking Stolthaven Antwerp NV (Belgium) for the storage and handling of glacial acetic acid (GAA) and vinyl acetate monomer (VAM) in Antwerp. As per the agreement, Oiltanking will invest in new stainless steel storage capacity and rail loading infrastructure at Antwerp.
The major participants operating in the North American acetic acid market are BASF SE (Germany), Celanese Corporation (U.S.), LyondellBasell (Netherlands), Eastman Chemicals (U.S.), and others.
