US-based specialty materials firm Celanese has agreed
to acquire polyvinyl acetate assets from Ashland, including its
Vinac and Flexbond product lines, to support
strategic growth of Celaneses emulsion polymers
The transaction is expected to close within 60 days, subject
to satisfaction of closing conditions, the companies
said. Terms were not disclosed.
Revenues of Vinac and Flexbond
were approximately $45 million in 2010.
Celanese is a global leader in emulsion polymers, and
this acquisition broadens our innovative product offerings to
support our customers in growth-oriented segments, said
Doug Madden, chief operating officer for Celanese. This
transaction is consistent with our strategy to create
shareholder value through strategic portfolio
This acquisition will accelerate the growth of the
emulsion polymers business throughout the Americas in key
segments such as adhesives, textiles, coatings and paper,
said Phillip McDivitt, general manager, Celanese Emulsion
The addition of Vinac and Flexbond
will expand our product portfolio while building upon
Celaneses emulsion process technology at our Enoree, S.C., and
Boucherville, Quebec, Canada, manufacturing facilities.
Vinac branded products are used to make a
variety of adhesives for use in woodworking and paper packaging
and converting applications.
These vinyl-based polymers can be used to make water
resistant wood glues and adhesives suitable for use with
various kraft and coated paperboards.
Flexbond branded products are used to make
interior and exterior architectural paints. These paints
exhibit characteristics such as scrub and stain resistance in
interior paints and weather resistance in exterior formulas,
according to the company.
Ashland said the sale includes the transfer of its polyvinyl
acetate homopolymer and copolymer (PVAc) businesses, including
inventory and related technology.