# Celanese and Mitsubishi Gas Chemical complete restructuring of Korea Engineering Plastics JV

Celanese Corporation and Mitsubishi Gas Chemical Company completed the restructuring of their 50/50 joint venture Korea Engineering Plastics Co. (KEP). KEP will now focus on manufacturing and supplying products to its shareholders, who will market them independently. Celanese also sold land to KEP at its Ulsan site for approximately $10 million.

- Type: Acquisition
- Announced: 2022-04-01
- Where: Ulsan, South Korea, South Korea
- Value: $10.0M
- Status: completed
- Capacity: approximately 70kta of POM production in Asia
- Products: polyoxymethylene (POM)
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Celanese](https://endata.com/companies/10711.md) (partner)
- [Mitsubishi Gas Chemical Company, Inc.](https://endata.com/companies/20632.md) (partner)
- [Korea Engineering Plastics Co.](https://endata.com/companies/51738.md) (target)

## Sources

- [plastics-technology.com](https://www.plastics-technology.com/pressreleases/celanese-and-mitsubishi-gas-chemical-complete-restructuring), 2022-04-01: "With the completion of this restructuring, Celanese now has access to world-scale POM polymerization capabilities globally, with committed access to approximately 70kta of POM production in Asia and corresponding global marketing rights."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.