Press Release Celanese - British Polythene Industries PLC
EDMONTON, ALBERTA, CANADA - Seale & Associates, Inc. announced that it acted as exclusive financial advisor to Celanese Corporation (NYSE: CE), a global hybrid chemical company, on the sale of the AT Films business of its AT Plastics subsidiary to British Polythene Industries PLC (LSE: BPI). AT Films manufactures polythene film products for the agricultural, horticultural and construction industries. Specific terms of the transaction were not disclosed.
Celanese Corporation, based in Dallas, Texas, is a global leader in the chemicals industry known for operational excellence and execution of its business strategies. Celanese products, found in consumer and industrial applications, are manufactured in North America, Europe and Asia. Net sales totaled US$6.7 billion in 2006, with approximately 60% generated outside of North America. The company employs approximately 8,900 employees worldwide.
BPI is the largest manufacturer of polythene film, bags and sacks in Europe with manufacturing capacity in excess of 350,000 tonnes annually. BPI is also the largest recycler of polythene waste in Europe and operates in all private and public sector markets, supplying a wide range of packaging films and bags on a global scale.
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients' most complex dealings.