Celanese looks to sell Spain vinyl acetate plant
US-based Celanese is attempting to sell its vinyl acetate monomer (VAM) unit in Tarragona, Spain, the company said on Wednesday.
The capacity of the VAM unit is 200,000 tpy, according to the company. Celanese said it is committed to taking the appropriate time to find a "credible buyer" for the unit, with primary focus on industrial candidates.
To help with the sales process, Celanese has hired Paris-based consultancy JH Lillian & Co., an advisory firm specializing in the chemicals industry.
Celanese said the decision to sell the plant was driven by a recently completed assessment of the company's overall corporate strategy, which included an assessment of the company’s global manufacturing facilities.
"Specifically in support of the company’s Acetyl Intermediates business, the manufacturing footprint strategy favors integrated production sites that provide critical economies of scale," Celanese officials said.
Celanese employs 70 full-time workers at the Tarragona facility.
The company is also looking to sell a 34,000 tpy acetic anhydride facility in Roussillon, France. That site has an employment base of 30 full-time workers.
"The sale process for both facilities will be open to a broad range of candidates," the company said.
"However, 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."
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