Celanese and Mitsui Sign Definitive Agreement to Form Nutrinova, a Food Ingredients Joint Venture
The Nutrinova joint venture builds upon the existing long-term strategic partnership between the two companies. The agreement combines the technology, product portfolio and backward integration of the Celanese Food Ingredients business with Mitsui’s long-standing positions across the food value chain in
The formation of the Nutrinova JV allows Celanese to monetize a majority of that business in a value accretive way and also maintain the benefits of integration with the Acetyl Chain. After consideration of closing expenses and transaction costs, an estimated net cash proceeds of approximately
The Celanese Food Ingredients business is a leading producer of acesulfame potassium (Ace-K) sweetener as well as sorbic acid and potassium sorbate preservatives. Celanese is the inventor and only western producer of the zero-calorie, high-intensity sweetener Sunett® Ace-K. On a pro-forma basis, the Food Ingredients business generated approximately
Celanese is advised by BofA Securities as financial advisor and Shearman & Sterling LLP as legal counsel.
About Celanese
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 our 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
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Investor Relations
Brandon Ayache
+1 972 443 8509
brandon.ayache@celanese.com
Media Relations – Global
Brian Bianco
+1 972 443 4400
media@celanese.com
Media Relations Europe (
Petra Czugler
+49 69 45009 1206
petra.czugler@celanese.com
Source: Celanese Corporation
