Polyplastics Plans German Polymers Plant
To be operated by local Polyplastics subsidiary Topas Advanced Polymers, the new plant will have a capacity of 20,000 t/y, more than doubling the company’s current output. Startup is scheduled by mid-2023.
Polyplastics has been producing COCs in Oberhausen, Germany, since 2000. The company said it has developed a broad range of applications for, which is certified as recyclable and also is becoming a crucial component in medical devices.
In July, Celanese agreed to sell its 45% share in Polyplastics to partner Daicel for $1.575 billion. The deal, which will give Daicel full control of Polyplastics, is set to close later this year.
Daicel said making Polyplastics a wholly-owned subsidiary will allow it to accelerate the restructuring of its plastics segment, which accounts for 40% of its revenues.