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Petrochemicals
Celanese divests ethanol technology to Chinese partner
by Alexander H. Tullo
July 28, 2018
| A version of this story appeared in
Volume 96, Issue 31
Celanese has signed a letter of intent to sell a facility in Nanjing, China, that makes ethanol from acetic acid to Chengzhi Shareholding. The 275,000-metric-ton-per-year plant, which uses Celanese’s TCX technology, opened in 2014 but closed last year. The company took a $123 million write-off in 2015 because of “market conditions affecting demand for ethanol and downstream products.” Celanese will contribute the TCX technology to a joint venture with Chengzhi. The two firms hope to get the ethanol plant running again in 2019.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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