Celanese Corp sells Films business of AT Plastics to British Polythene Industries

21 August 2007

Global hybrid chemical company, Celanese Corporation, today sold the films business of its AT Plastics subsidiary to British Polythene Industries PLC (BPI), a UK-based maker of packaging products, for $12 million in an all-cash transaction.

The films business manufactures products for the agricultural, horticultural and construction industries. AT Films produced 12,500 tonnes of polythene film products last year with sales of $35 million, around $2,800 per tonne.

With this acquisition, British Polythene Industries (BPI) has broken into the North American market.

BPI is one of the largest manufacturers of polythene films, bags and sacks in Europe. The AT Films purchase brings with it a new product, a large agricultural bag used for storing grains for animal feed or that are subsequently used in the production of bio-fuels, a potentially lucrative area.

The sale is part of Celanese's ongoing plan to divest non-core businesses. The transaction includes the transfer to BPI of Films production assets, located in Edmonton and Westlock, Alberta, Canada, effective immediately.