28th Mar 2007 14:18
Celanese Corporation (NYSE:CE), a global, hybrid chemical company,today announced that it has entered into a strategic partnership withAccsys Technologies PLC, and its subsidiary Titan Wood, forapplication of Celanese's core acetyl products in Accsys' proprietaryAccoya(TM) wood production process. £ Celanese, a leading global producer of acetic acid and aceticanhydride, will become the exclusive supplier of acetyl products toTitan Wood's technology licensees for use in wood acetylation.Celanese will also make an equity investment of approximately USD$29.5 million in Accsys Technologies (London Stock Exchange AiM: AXS). £ "Celanese is committed to growth and innovation, and thisstrategic partnership is an exciting area for us to apply our coreproducts in an innovative application that can be deployed anywhere inthe world," said John O'Dwyer, president, Celanese Acetyls andCelanese Asia. "We view this as a solution to bring Celanese'sintermediate chemical products into more consumer applications. Thisinnovative process also offers the global market more environmentallysustainable building materials." £ About Wood Acetylation £ Wood Acetylation is a process that increases the amount of'acetyl' molecules in wood, thereby changing its physical properties.The process protects wood from rot by making it "inedible" to mostmicro-organisms and insects, without - unlike conventional treatments- making it toxic. It also greatly reduces the wood's tendency toswell and shrink, making it less prone to cracking and ensuring thatwhen painted it requires dramatically reduced maintenance. £ Acetylated wood increases hardness and does not compromise woodstrength or natural beauty, allowing for applications in consumer andindustrial applications such as bridge construction, home deckconstruction and outdoor furniture. £ About Titan Wood Limited £ Titan Wood Limited (www.titanwood.com) is a wholly ownedsubsidiary of the Accsys Technologies PLC (www.accsysplc.com) group ofcompanies. Accsys Technologies PLC is listed on the London StockExchange AiM market under the symbol 'AXS'. £ About Accoya £ Accoya(TM) wood (www.accoya.info) is produced using a patentedprocess that effectively converts sustainably grown softwoods andnon-durable hardwoods into what is best described as a 'new woodspecies'. Distinguished by its durability, dimensional stability and,perhaps most importantly of all, its reliability (in terms ofconsistency of both supply and quality), Accoya(TM) wood isparticularly suited to exterior applications where performance andappearance are valued. Unlike most tropical and European hardwoods,its colour does not degrade when exposed to ultraviolet light.Moreover, the Accoya(TM) wood production process does not compromisethe wood's strength or machinability. The combination of UVresistance, dimensional stability, durability and retained strengthmeans that Accoya(TM) wood offers a wealth of new opportunities toarchitects, designers and specifiers. For marine uses where weight isalso important, Accoya(TM) wood for the first time provides boatbuilders with a wood that is strong, lightweight, durable and whichretains its natural beauty for far longer. £ ACCOYA is a registered trademark owned by Titan Wood Limited £ As a global leader in the chemicals industry, Celanese Corporationmakes products essential to everyday living. Our products, found inconsumer and industrial applications, are manufactured in NorthAmerica, Europe and Asia. Net sales totaled $6.7 billion in 2006, withapproximately 60% generated outside of North America. Known foroperational excellence and execution of its business strategies,Celanese delivers value to customers around the globe with innovationsand best-in-class technologies. Based in Dallas, Texas, the companyemploys approximately 8,900 employees worldwide. For more informationon Celanese Corporation, please visit the company's website atwww.celanese.com. £ Forward-Looking Statements £ This release may contain "forward-looking statements," whichinclude information concerning the company's plans, objectives, goals,strategies, future revenues or performance, capital expenditures,financing needs and other information that is not historicalinformation. When used in this release, the words "outlook,""forecast," "estimates," "expects," "anticipates," "projects,""plans," "intends," "believes," and variations of such words orsimilar expressions are intended to identify forward-lookingstatements. All forward-looking statements are based upon currentexpectations and beliefs and various assumptions. There can be noassurance that the company will realize these expectations or thatthese beliefs will prove correct. There are a number of risks anduncertainties that could cause actual results to differ materiallyfrom 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 expressedas forward-looking statements. Certain of these risk factors arediscussed in the company's filings with the Securities and ExchangeCommission. Any forward-looking statement speaks only as of the dateon which it is made, and the company undertakes no obligation toupdate any forward-looking statements to reflect events orcircumstances after the date on which it is made or to reflect theoccurrence of anticipated or unanticipated events or circumstances. Copyright Business Wire 2007Related Shares:
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