Celanese sells films business of Alberta-based AT Plastics
Canadian PlasticsCanadian Plastics
Dallas, Tex.-based chemical company Celanese Corporation has announced that it has sold the Films business of its A...
Dallas, Tex.-based chemical company Celanese Corporation has announced that it has sold the Films business of its Alberta-based AT Plastics Inc. susbidiary to British Polythene Industries PLC (BPI).
According to Celanese, the sale is part of the company’s ongoing plan to divest non-core businesses. The transaction will include the transfer of Films production assets located in Edmonton and Westlock, Alta., effective immediately. The Films facilities employ 65 people.
According to the AT Plastics website, the Films division produced greenhouse and overwintering films for the horticultural products industry. The business arm also produced a variety of silage plastic products. AT Films sold 12,500 tons of polythene film products with an annual value of US$35 million in the last financial year.
“This acquisition enables us to progress our strategy of developing our international agricultural and horticultural films business,” said BPI chairman Cameron McLatchie in a press release. “In addition to offering new geographic markets, AT Films brings new products to BPI including a range of large agricultural bags which are used to store silage and grain.”
Meanwhile, AT Plastics’s Specialty Polymers business, which has production and support facilities located in Edmonton, Alta., will remain with Celanese. The Polymers business focuses on specialty resins and compounds.
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