Daicel, Polyplastics sign letter of intent

Dallas-based Celanese Corp. has signed a letter of intent with Daicel Chemical Industries Ltd. and Polyplastics Co. Ltd. to sell its cycloofine copolymer business (COC). As the company announced, Daicel and Polyplastics intend to form a joint venture in Germany to which all employees and production and research facilities will be transferred.
Final conclusion of the deal is expected at the end of 2005.