Celanese and Mitsui & Co., Ltd. to Form Food Ingredients Joint Venture; Extend Existing Fairway Methanol LLC Joint Venture
Celanese announced today the signing of a term sheet to form a Food Ingredients JV with Mitsui, subject to customary approvals.
- Celanese announced today the signing of a term sheet to form a Food Ingredients JV with Mitsui, subject to customary approvals.
- Through this transaction, Celanese will contribute its Food Ingredients business, inclusive of assets, technology, and employees, to form a standalone Food Ingredients JV.
- Celanese Food Ingredients is a leading producer of acesulfame potassium (Ace-K) sweetener as well as sorbic acid and potassium sorbate preservatives.
- Celanese and Mitsui have also agreed on a long-term extension of their existing Fairway Methanol LLC JV which produces methanol at Celanese’s Clear Lake facility.