Celanese Signs Memorandum of Understanding to Cooperate with PetroChina to Develop Synthetic Fuel Ethanol Opportunities in China
BEIJING & DALLAS--(BUSINESS WIRE)-- Celanese Far East Limited, a wholly owned subsidiary of the global technology and specialty materials company Celanese Corporation (NYS: CE) , today announced that it has entered into a Memorandum of Understanding to advance the development of synthetic fuel ethanol with PetroChina Company Limited (PetroChina), the largest oil and gas producer and distributor in China. Under this arrangement, the two companies will collaborate to jointly develop synthetic fuel ethanol opportunities in the People's Republic of China utilizing Celanese's proprietary TCX® ethanol process technology.
"We are very pleased to cooperate with PetroChina to explore the growing fuel ethanol market in China and look forward to working closely with all stakeholders in China to bring to bear the benefits of Celanese TCX® technology," said Jay Townsend, senior vice president, business strategy & development and procurement. "We are confident that the advantages of ethanol produced from TCX® will help facilitate improvements in fuel and air quality, control pollutants and to develop new sources of clean liquid transportation fuel utilizing China's abundant local resources."
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. With sales almost equally divided between North America, Europe and Asia, the company uses the full breadth of its global chemistry, technology and business expertise to create value for customers and the corporation. Celanese partners with customers to solve their most critical needs while making a positive impact on its communities and the world. Based in Dallas, Texas, Celanese employs approximately 7,600 employees worldwide and had 2012 net sales of $6.4 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com .
About Celanese TCX ® Technology
Celanese TCX ® Technology, an innovative ethanol production process, helps countries that seek diverse, secure transportation fuel meet their growing needs by converting domestic natural gas and coal feedstocks to liquid fuel. For more information, visit www.celanesetcx.com .
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Jon Puckett, +1 972-443-4965
Telefax: +1 972-443-8519
Travis Jacobsen, +1 972-443-3750
Telefax: +1 972-443-8519
KEYWORDS: United States Asia Pacific North America China Texas
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