A breakup could be in the offing for Celanese, according to an article from Bloomberg citing people familiar with the matter. The Irving, Texas-based chemicals producer is reportedly conducting a strategic review that may include splitting up the company.
The company’s annual report details three main business segments: engineered materials, acetate tow business and an acetyl chain unit. Celanese is reportedly still in the early stages of the review process and could decide against breaking up. If the company does opt to split, it will join the likes of DuPont de Nemours, which is divesting its nutrition and bioscience business, and Akzo Nobel NV, which sold off it specialty chemical group last year, according to Bloomberg.
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