Advent International to purchase Vinnolit and Vintron. Celanese, Wacker and Advent sign Letters of Intent

Celanese AG, Frankfurt, and Wacker-Chemie GmbH, Munich, have signed a Letter of Intent with Advent International Corp. on the sale of their stakes in Vinnolit Kunststoff GmbH, Ismaning. At the same time, Celanese Chemical Europe GmbH, a Celanese AG subsidiary, has signed a similar Letter of Intent on the sale of Vintron GmbH.

Vinnolit is one of the leading European PVC manufacturers with an output capacity of 570 kt/a. In cooperation with Vintron, which began work on an expansion project to supply Vinnolit with raw materials in 1999, a competitive group will be created with a highly efficient value chain.

Advent International is a leading private equity firm which advises institutional funds. It was founded in 1984 and currently has around $3.5 billion under management. Advent and its institutional funds have financed more than 400 companies in a variety of industries worldwide and they intend to further develop Vinnolit and Vintron's operations in order to better equip the two companies to meet the growing demands of their customers.

The intended divestitures represent further steps in Celanese AG's strategy of focussing on its core businesses Acetyl Products, Chemical Intermediates, Acetate Products, Technical Polymers and Performance Products.

For Wacker-Chemie - whose core business areas are polymers and specialty chemicals, hyperpure silicon for the semiconductor industry, silicons and ceramic materials - these transactions represent the end of almost 65 years in the PVC sector.

Celanese AG is a global chemicals company with leading positions in its key products and world class process technology. The Celanese portfolio consists of five main businesses; Acetyl Products, Acetate Products, Chemical Intermediates, Technical Polymers and Performance Products. The Performance Product business consists of OPP polypropylene films and food ingredients.

In 1999, Celanese generated sales of around € 4.3 billion (excluding discontinued operations) with about 16,500 employees. Based near Frankfurt, the company has 33 production plants and five research centers in nine countries mainly in North America, Europe and Asia. Celanese AG shares are listed on the Frankfurt stock exchange (stock exchange symbol CZZ) and on the New York Stock Exchange (symbol CZ).

Your contact:

Wacker-Chemie GmbH
Peter Hirschmann
Telefon +49-89-6279 1165
Telefax +49-89-6279 1239