Celanese acquires long-fiber thermoplastics business of FACT

In a press release statement, Celanese Corporation announced the acquisition of the long-fiber reinforced thermoplastics (LFT) business of FACT GmbH (Future Advanced Composites Technology) of Kaiserslautern, Germany, a business unit of The Ravago Group. Completion of the change of ownership will occur on December 31, 2009. Financial details of the transaction were not disclosed. FACT is a leading producer of long-fiber reinforced thermoplastics (LFT) used in injection moulding, extrusion, compression moulding and blow moulding applications. The acquisition will support Celanese’s Advanced Engineered Materials business segment, specifically Ticona Engineering Polymers, by building upon Ticona’s LFT process technology and broadening specific product offerings to improve the capability to grow with its customers through a new production site in Kaiserslautern.