7/20/2000

Wacker and Celanese Finalize Sale of Their PVC Business to Advent International

Munich-based Wacker-Chemie GmbH and Celanese AG, Kronberg (Germany), have sold their 50 % stakes in Vinnolit Kunststoff GmbH, Ismaning (Germany), to Advent International Corp. At the same time, Celanese subsidiary Celanese Chemicals Europe GmbH sold its stake (100 %) in Vintron GmbH, Knapsack (Germany), to Advent. Wacker and Celanese have agreed not to reveal the price paid for Vinnolit. The transaction is effective from January 1, 2000.

Vinnolit posted sales of € 428 million in 1999 and € 257 million in the first half of 2000. It is one of Europe's leading PVC producers with an annual capacity of 570,000 metric tons. Vinnolit is directly cooperating with Vintron to create a new competitive group with a cost-optimized value-added chain and higher overall capacity. Its partner, Vintron, is working on a capacity-expansion project to secure Vinnolit's precursor supply.

Advent International is a leading private equity firm that advises institutional funds. Founded in 1984, it has total investments of US$ 4 billion under management and maintains offices and consultants in 17 countries. Advent has financed more than 400 companies in a variety of industries worldwide. To meet increasingly exacting customer needs, Advent intends to continue developing Vinnolit's and Vintron's plants and operations.

Wacker-Chemie is exiting the PVC sector after almost 65 years. The spin-off is part of its strategy to focus on core businesses: polymers and specialty chemicals, hyperpure silicon for semiconductors, silicones and ceramic materials.

With 16,200 employees worldwide, Wacker-Chemie's 1999 sales totaled some € 2.5 billion.

Further information about Wacker-Chemie can be found on our website: http://www.wacker.com

Your contact:

Wacker-Chemie GmbH Celanese AG
Hans-Joachim KlingerDr. Hans-Bernd Heier
Phone +49-89-6279-1508 Phone + 49-69-305-7112
Fax +49-89-6279-1239Fax +69-305-84160
e-mail:
hans-joachim.klinger@wacker.com
e-mail:
H.Heier@Celanese.com