CELANESE, TEIJIN FORM NEW DEAL
NEW YORK — Celanese AG and Teijin Ltd. said Thursday they were giving up on efforts to form a joint venture producing and selling acetate in Asia.
Instead, the firms have formed a “marketing and sales-assistance agreement,” which means that Teijin will sell acetate produced by Celanese in North America to that region. As part of the pact, Tokyo-based Teijin will cease to manufacture acetate by February.
Keith Nagy, director of filament for Charlotte, N.C.-based Celanese Acetate, said Teijin’s current acetate capacity is about 10 tons a year. Teijin will now sell acetate under the Celanese name.
Nagy noted that Celanese is also ceasing to make filament at its plant in Lanaken, Belgium, which produces about 3,500 tons of filament a year. That plant will continue to produce acetate flake and tow for cigarette filters.
Celanese will continue to make acetate fiber in Narrows, Va., and Ocotlan, Mexico.