December 23, 2015 Updated 12/23/2015
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Materials maker Celanese Corp. has formed a joint venture with Chinese firm Push Group Co. Ltd. to make plastic resins and films based on cellulose acetate.
“This is an exciting opportunity for Celanese … to add a specialty cellulose plastics focus to our leading cellulose acetate capabilities,” Celanese materials solutions president Scott Sutton said in a Dec. 21 news release.
The JV is expected to be finalized by the end of March. A spokesman for Dallas-based Celanese said that no production details for the JV have been decided on.
Push Group is a unit of Sichuan Wuilangye Group Co. Ltd. of Yibin, China. Celanese ranks as the world’s largest acetal maker and produces other specialty materials as well. The firm employs 7,500 worldwide and had sales of $ 6.8 billion in 2014.
