Dallas, July 7, 2005 (CE: NYSE): Celanese announced today, that it is reviewing strategic options for the omega-3 DHA business of Nutrinova and the related biotech platform, including the possibility of selling the business. This decision is in line with the policy of Nutrinova, the performance products business of Celanese Corporation, to continue executing its strategy of focusing on its core sweetener and food protection business.
Several companies have already indicated interest in Nutrinova’s DHA business, as they are aware of the increasingly growing omega-3 market and the excellent features microalgae-derived Nutrinova® DHA offers. The product is gaining market acceptance and has the potential of becoming a prominent health-enhancing food ingredient. This is emphasized by a number of recent worldwide product launches in the functional foods and dietary supplements segments. The omega-3 market has become very attractive due to its high growth rates. Based on the numerous advantages of microalgae-derived omega-3 PUFA, the growth rates of these oils are expected to even outstrip other omega-3 sources such as marine fish oils.
Celanese has engaged Navigant Capital Advisors, LLC, a subsidiary of Navigant Consulting, Inc., as its financial advisor to evaluate strategic alternatives for the omega-3 DHA business, including management of discussions with interested parties. It is Celanese’ intention to take a decision regarding the future of the business by the end of the third quarter of 2005.
Celanese Corporation (NYSE:CE) is an integrated global producer of value-added industrial chemicals based in Dallas, Texas. The Company has four major businesses: Chemicals Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has production plants in 12 countries in North America, Europe and Asia. In 2004, Celanese Corporation and its predecessor had combined net sales of $5.1 billion.The presentation of combined net sales of Celanese Corporation with its predecessor is not in accordance with U.S. GAAP. For more information on Celanese Corporation including a reconciliation of the combined net sales, please visit the company's web site.
Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company’s filings with the Securities and Exchange Commission, copies of which are available from the Company.