DALLAS--(BUSINESS WIRE)--Celanese Corporation (NYSE: CE), a global technology and specialty materials company, has issued the following statement:
Celanese Corporation continues to work cooperatively with the European Commission toward a successful close of the ongoing merger review process of its proposed Joint Venture with Blackstone to form a new acetate tow supplier. As part of the standard review process of a Phase II investigation we confirm receipt of the statement of objections. It sets out the provisional position of the Commission and does not prejudge the final outcome of the case.
Celanese remains committed to creating an acetate tow supplier that provides an increased ability to serve customers efficiently and reliably, while enhancing opportunities for innovation and productivity.
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our two complementary business cores, Acetyl Chain and Materials Solutions, use the full breadth of Celanese’s global chemistry, technology and business expertise to create value for our customers 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 7,500 employees worldwide and had 2016 net sales of $5.4 billion. For more information about Celanese and our product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.
All registered trademarks are owned by Celanese International Corporation or its affiliates.
This release contains "forward-looking statements," which include information concerning the Company's plans, objectives, goals, and strategies that is not historical information. All forward-looking statements are based upon current expectations and beliefs and various assumptions, including the announced joint venture. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the results expressed or implied in the forward-looking statements contained in this release, including with respect to the joint venture. These risks and uncertainties and various other factors are discussed from time to time in the Company's filings with the Securities and Exchange Commission.