Web Date: June 19, 2017
Celanese, Blackstone to combine acetate units
Celanese and the New York City-based private equity firm Blackstone will combine their acetate tow businesses into a joint venture that will be the world’s leading producer of the cellulose acetate fiber, used mainly in cigarette filters.
Celanese will own 70% of the joint venture; Blackstone will hold the rest. It will command more than 25% of the roughly 800,000 metric tons per year of global acetate tow capacity. Blackstone and Celanese estimate that the . . .
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