DALLAS & SHANGHAI--(BUSINESS WIRE)--Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announces it has recently signed a memorandum of understanding for a long-term commercial agreement with Anhui Wanwei Group Co., Ltd., (Wanwei), based in Chaohu, China, to supply Wanwei with Celanese’s green technology-based, ethylene-based vinyl acetate monomer (VAM) to support approximately 50 percent of the company’s captive product needs in the manufacture of chemicals, fibers, and new material in Anhui Province, China.
Under the terms of the agreement, Celanese will supply Wanwei with its ethylene-based VAM, which has been recognized by the China Petroleum and Chemical Industry Federation (CPCIF) as an environmentally sustainable product. Celanese’s ethylene-based VAM was recently awarded the designation as a “Green Technology” in China for its low carbon emissions, low energy consumption, low content of heavy components and high product quality. The designation by the CPCIF was listed in the Directory for Petrochemical Green Technology 2019 Edition.
“Celanese is pleased to supply Wanwei with a quality VAM product that exemplifies the company’s ongoing commitment to sustainable product development and environmental protection,” said Florian Kohl, Vice President of Celanese’s VAM, Emulsion & Redispersible Powders businesses. “As the world’s largest producer of vinyl acetate monomer, Celanese is advancing green technologies used in the production of various emulsion polymers that not only meet stringent environmental regulations, but also help our customers meet their sustainability goals and product expectations. Celanese will continue to adhere to our sustainability-focused business principles and will work together with local governments and associations to actively contribute to ‘green’ product development.”
“Celanese and Wanwei have been business partners for more than 10 years,” said Mr. Wu Fu Sheng, President of Wanwei, “This agreement marks another milestone of the two companies in long-term cooperation. It also provides a gateway for promoting more eco-friendly solutions in the future to support China’s Blue Skies environmental policy.”
Celanese is the largest global producer of ethylene-based VAM and is advancing the use of green technology in the production of polymer emulsions of various types. VAM is the key raw material used in the production of polyvinyl acetate (PVAc), vinyl acetate ethylene (VAE) emulsions and polyvinyl alcohol (PVOH), a precursor to PvB films. VAM is also used to make ethylene vinyl alcohol (EVOH) resins and ethylene vinyl acetate (EVA) copolymers. In addition, VAM is an intermediate used to produce paints and coatings, adhesives, textile finishes, water-soluble films and fibers, and laminated safety glass. VAM can be polymerized in mass, solution, suspension or emulsion.
Financial details of the agreement are not being disclosed at this time. Celanese expects to supply Wanwei with VAM from its world-scale chemical industrial facility located in Nanjing, China.
Anhui Wanwei Group Co., Ltd, is a large enterprise under the direct control of State-owned Assets Supervision and Administration Commission of Anhui Provincial Government. The Group Company is an important joint manufacturing enterprise of chemical, fiber and new material in Anhui Province. Its dominant product is PVA and HSHM-PVA Fiber, with its output capacity keeping it as the first of China for many years, also in the world. The Group company have more than 3,200 staff. The total sales revenue is RMB 6.356 billion in 2019 and the export is more than USD $100 million.
Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2019 net sales of $6.3 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.
Forward-Looking Statements: This release may contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures and other information that is not historical information. When used in this release, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company or its customers will realize these benefits or that these expectations will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release. Numerous factors, many of which are beyond the company’s control, could cause actual results to differ materially from those expressed as forward-looking statements. Other risk factors include those that are discussed in the company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.