Business
European Commission grants unconditional approval for Celanese acquisition of Acetex
European Commission grants unconditional approval for Celanese acquisition of Acetex.
About this update from Atex Resources Inc.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, July 13 /CNW/ - Acetex Corporation (TSX: ATX) announced that\nthe European Commission (\"EC\") has granted Celanese Corporation unconditional\napproval of the acquisition of Acetex. As all necessary regulatory permissions\nhave now been given and, as Acetex shareholders approved the transaction on\nJanuary 12, 2005, Celanese expects to close the transaction on or about\nJuly 20, 2005.\n\nAcetex Corporation has two primary businesses - its European Acetyls\nBusiness and the Specialty Polymers and Films Business. Our Acetyls business\nis Europe's second largest producer of acetic acid and polyvinyl alcohol and\nthird largest producer of vinyl acetate monomer. These chemicals and their\nderivatives are used in a wide range of applications in the automotive,\nconstruction, packaging, pharmaceutical and textile industries.\nSpecialty polymers developed and manufactured by Acetex are used in the\nmanufacture of a variety of plastics products, including packaging and\nlaminating products, auto parts, adhesives and medical products. The films\nbusiness focuses on products for the agricultural, horticultural and\nconstruction industries.\nAcetex directs its operations from its corporate head office in\nVancouver, Canada. Acetex has plants in France, Spain, and Edmonton, Alberta,\nand sells to customers primarily in Europe, the United States, and Canada.\nAcetex's common shares are listed for trading under the symbol \"ATX\" on the\nTSX, which has neither approved nor disapproved the information contained\nherein.\n\nInformation in this news release may contain forward-looking statements.\nBy their nature, such forward-looking statements involve risks and\nuncertainties that could cause actual results to differ materially from those\ncontemplated by the forward-looking statements. They include world wide\neconomic conditions, actions of competitors, the availability and cost of\nfeedstock, the ability to implement business strategies and pursue business\nopportunities, conditions in the chemicals business including the supply and\ndemand for industrial chemicals and the risks attendant with producing and\nmarketing industrial chemicals and carrying out major capital projects.\nForward-looking statements in this release are made pursuant to the safe\nharbor provisions of the Private Securities Litigation Reform Act of ...