Film sale
Celanese has sold the films business of its AT Plastics subsidiary to British Polythene Industries for $12m in cash.
Celanese Corporation has sold the films business of its AT Plastics subsidiary to British Polythene Industries (BPI) for $12m in cash.
The sale is part of Celanese’s ongoing plan to divest non-core businesses.
AT Films manufactures polythene film products for the horticultural and agricultural markets, mainly in North America. The company has facilities in Edmonton and Westlock, Alberta, Canada and employs 65 people. In the last financial year to 31 December 2006, AT Films sold 12,500 tonnes of polythene film products with an annual value of $35m.
The specialty polymers business of AT Plastics, whose production and support facilities are located in Edmonton, remains with Celanese. The Polymers business concentrates on the development and supply of specialty resins and compounds.
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