11.03.2005 11:20:00
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Celanese Statement on European Commission Process
Chemicals Writers
DALLAS--(BUSINESS WIRE)--March 11, 2005--Celanese Corporation (NYSE: CE)(FWB: CZZ) today provided the following response to questions about the European Commission's announced Phase II review of the proposed acquisition of Acetex Corporation:
"The announced Phase II review is an established procedure in the European Commission's overall anti-trust approval processes for certain transactions.
As the European Commission has made clear, the decision to open a detailed inquiry does not prejudge the eventual outcome of the review. Celanese believes that it has a compelling business rationale for the transaction and is cooperating fully with the European Commission in its process.
Celanese Corporation's recent financial guidance for 2005 did not include any potential contributions from Acetex."
Celanese Corporation (NYSE:CE) is an integrated global producer of value-added industrial chemicals with 2004 sales of $5 billion. Based in Dallas, Texas, the company holds #1 or #2 market positions in products comprising the majority of its sales and has four major businesses: Chemicals Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has 29 production plants, with major operations in North America, Europe and Asia. For more information, please visit the company's web site at www.celanese.com.
Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company.
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CONTACT: Celanese Corporation USA Vance Meyer, +1 972 443 4847 Telefax: +1 972 443 8519 Vance.Meyer@celanese.com or Europe Michael Kraft, +49 69 30514072 Telefax: +49 69305 36787 M.Kraft@celanese.com or Investor Relations Andrea Stine, +1 908 901 4504 Telefax: +1 908 901 4805 A.Stine@celanese.com
KEYWORD: TEXAS GERMANY INTERNATIONAL EUROPE INDUSTRY KEYWORD: CHEMICALS/PLASTICS MERGERS/ACQ SOURCE: Celanese Corporation
Copyright Business Wire 2005
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Celanese Corp. | 62,64 | -1,85% |