Celanese, the world's leading technology and specialty materials company, announced that its joint venture, Ibn Sina, has completed construction of its formaldehyde production plant in Byblos Industrial City in Saudi Arabia, with a capacity of 50,000 tons.
Celanese confirmed that the unit has completed the commissioning of all specifications for the copolymerization of paraformaldehyde and has achieved full production; as a result, the unit has officially been put into operation. As previously announced, following the successful commissioning of the paraformaldehyde unit, Celanese The economic benefits generated at Ibn Sina will rise from 25% to 32.5%, further contributing to Celanese's financial growth.
Ibn Sina is a joint venture between SABIC and CTE, which is jointly owned by Celanese and Duke Energy subsidiaries Celanese, SABIC and Duke Energy formed the Ibn Sina joint venture in 1981. It is Ibn Sina part of the expansion of the business.Currently, Celanese and Duke Energy each hold a 25% interest in Ibn Sina, the remaining 50% owned by SABIC.
The paraformaldehyde unit will be produced from the methanol feedstock produced internally by Ibn Sina, a differentiated and value-added product used primarily in the automotive, electronics, mechanical and construction industries, and other industries.
About Celanese
Celanese is a global technology leader in the manufacture of specialty chemical materials and a leading provider of differentiated chemical solutions. Our products are used in a wide range of industrial and consumer products. Our two complementary core businesses are Acetyl Products Chains and materials solutions that take advantage of Celanese's broad chemical, technical and business expertise to create value for customers and the company itself.We not only work with our clients to meet their immediate needs, but also work with Celanese Foundation Communities and the world have a positive impact.The company is headquartered in Dallas, Texas, the United States, currently has about 7,500 employees worldwide net sales of 5.4 billion USdollars in 2016. For more information Celanese company and its global Product information, please visit the company website www.celanese.com or company blog: www.celaneseblog.com.