Acquisition of syngas unit would provide additional productivity and growth options in Gulf Coast region
Celanese Corporation (NYSE:CE), a global chemical and specialty materials company, today announced the signing of a definitive agreement to acquire a 365 kilo tons per annum synthesis gas production unit from Linde PLC. The production unit is located at the Celanese Clear Lake acetyl intermediates manufacturing facility located in Pasadena, Texas.
“By acquiring this syngas production unit, Celanese will have the capability of producing a critical raw material for the world’s largest acetyl intermediates production facility,” said Todd Elliott, Celanese Senior Vice President, Acetyls. “Linde is currently the primary carbon monoxide supplier to the Clear Lake facility, and the acquisition of this synthesis gas production unit will provide Celanese with future productivity and growth configuration options.”
Synthesis gas, or syngas, is a mixture of carbon monoxide, carbon dioxide and hydrogen. Syngas can be produced from many sources, including natural gas, coal, biomass, or virtually any hydrocarbon feedstock, by reaction with steam or oxygen. Syngas is a crucial intermediate resource for the production of acetic acid, hydrogen, ammonia, methanol, and synthetic hydrocarbon fuels.
Celanese Corporation and Linde PLC expect to complete the transaction pending customary closing conditions and regulatory approvals. Financial details of the deal are not being disclosed at this time.
About Linde PLC
Linde plc is a leading industrial gas and engineering company with market capitalization of approximately USD 90 billion (EUR 78 billion) and 2017 pro forma sales of USD 27 billion (EUR 24 billion). The company employs approximately 80,000 people globally and serves customers in more than 100 countries worldwide. Linde plc delivers innovative and sustainable solutions to its customers and creates long-term value for all stakeholders. The company is making our world more productive by providing products, technologies and services that help customers improve their economic and environmental performance in a connected world.
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2017 net sales of $6.1 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.
All registered trademarks are owned by Celanese International Corporation or its affiliates.
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