- June 24, 2021
- Posted by: Stratford Team
- Category: Business
DALLAS–(BUSINESS WIRE)–Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced that it has acquired certain technology relating to the production of polyacetal (POM) products from Grupa Azoty S.A. of Tarnow, Poland, after its decision to discontinue its POM manufacturing.
Celanese will take over all existing Tarnoform® contracts in order to serve Azoty’s customers. However, with the exception of certain equipment transferred in connection with the intellectual property transfer, this transaction does not include any of Azoty’s employees, tangible assets, manufacturing facilities or sales offices.
“This transaction will enable Celanese to serve Azoty’s customers with Celanese assets, thereby allowing for an incremental volume opportunity for Celanese as well as access to a POM customer base and a proven POM technology in Tarnoform®,” said Tom Kelly, Senior Vice President, Engineered…