Diverse chemicals and specialty materials manufacturer Celanese Corp. announced it intends to sell its 200,000 metric ton per year vinyl acetate monomer (VAM) plant in Tarragona, Spain, and a 34,000 ton-per-year plant that produces acetic anhydride at Rousillon, France.
Celanese decided to sell the European operations after reviewing its corporate strategy and assessing its current global manufacturing facilities. In its acetyl intermediates business specifically, the firm is aiming for integrated production sites "that provide critical economies of scale", it stated.
Celanese stressed that it will take its time to attract the right buyers for the two plants that currently employ a combined workforce of 100.
"....the selection of the buyers will be based on specific criteria, including the ability of the buyers to ensure sustainable operations, retain employees and their ability to meet certain financial conditions," the group said in a statement.
To help it to find the right purchasers, Celanese has hired a French consultancy, J H Lillian & Co. of Paris, which specializes in the chemical industry, it explained.
Vinyl acetate monomer produced is a compound used to make the thermoplastic polymer polyvinyl acetate (PVA). The Spanish plant currently has a 70-strong workforce while Celanese employs 30 at the French facility.
Based in Dallas, the group has a 7,600-strong global workforce and reported annual net sales in 2012 worth $6.4 billion.