Celanese planning sale of Nanjing ethanol plant, creation of TCX JV

摘要

Celanese (Dallas, Texas) has signed a letter of intent to sell its Nanjing, China, ethanol unit to Chengzhi Shareholding (Beijing).Celanese says the deal would include formation of a joint venture (JV) to develop and promote Celanese’s TCX technology, the proprietary acetic acid–to–ethanol process employed in the Nanjing plant. Sale of the Nanjing ethanol unit would include all related assets, including equipment, storage tanks, pipelines, and all necessary land rights and permits. Celanese would also contribute the TCX technology and associated patents, know-how, and trade secrets to the new JV, which would promote broader use of the technology in China.