The new Celanese AG (D-65926 Frankfurt), recently spun off from the soon to be defunct Hoechst AG and slated for flotation in October, plans to sell the majority of its non-core industrial businesses within two to three years after going public, according to ceo Claudio Sonder. As core business he pointed to the engineering plastics business of Ticona GmbH, based heavily on POM, as well as the more upstream acetyl and acetal products and chemical intermediates. A Celanese spokesman said OPP films manufacturer Trespaphan GmbH (D-66539 Neunkirchen) is being carried on the subsidiaries roster as a “complement to the base portfolio.” The business was once foreseen to be merged with the Mobil films activities, but this is said to be no longer an option.

Up for sale will be interests in PVC producer Vinnolit Kunststoff GmbH (D-85737 Ismaning), a joint venture with Wacker Chemie; fluoropolymers producer DyneonGmbH, the minority joint venture with 3M of the US; and PP producer Targor GmbH. Under the contract with 50:50 joint venture partner BASF, the Celanese stake will be taken over by the Ludwigshafen group in 2001.

Following the divestments, Celanese – which inherited EUR 1bn in debt from Hoechst – will be “a healthy company that can stand on its own feet,” said Sonder. He hinted at plans to grow through acquisition. Most analysts are doubtful. They expect the new Celanese as a prime candidate for takeover, whether friendly or unfriendly.