Celanese Becomes Separate Concern

A union official at Celanese Acetate, the New River Valley’s eighth-largest employer, said the company became a public corporation this week to ready itself for potential buyers. But Celanese officials say that is untrue.

“That’s completely contrary to our strategy,” Celanese spokeswoman Andrea Stine said Thursday. “Our strategy is to grow the company, and through growth increase its value for our shareholders.”

Azel Buckland, president of the Union of Needle Trades, Industrial and Textile Employees Local 2024, said although the company is doing well, its German parent, Hoechst AG, wants to unload it.