Leading acetyls producer, Celanese (Dallas, Texas / USA; www.celanese.com) has entered into an agreement to sell its polyvinyl alcohol (PVOH) business to Sekisui Chemical (Tokyo / Japan; www.sekisuichemical.com) for around USD173m (EUR 133m). The PVOH business had annual sales in 2008 of approximately USD 300m. The transaction is expected to be completed by mid-2009. Celanese said that the sale will allow it to focus on its integrated acetyl chain and help optimise its business where it has sustainable competitive advantages.

The transaction includes facilities in Calvert City, Kentucky and Pasadena, Texas in the US, one unit in the Celanese complex at Tarragona / Spain and resources from the company’s Houston technology centre. Around 220 employees at the sites, along with support personnel, will join Sekisui. The transaction additionally includes long-term supply agreements between both companies.