Korea Engineering Plastics Co.

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.

Celanese and Mitsubishi Gas Chemical completed the restructuring of their 50/50 joint venture Korea Engineering Plastics Co. (KEP). KEP will now focus solely on manufacturing and supplying products to its shareholders, who will independently market them globally without competitive restrictions.

Celanese Corporation and Mitsubishi Gas Chemical Company signed an MOU to restructure their joint venture Korea Engineering Plastics Co. (KEP), focusing KEP on manufacturing and supply to shareholders, and committing to increase KEP's POM production capacity in steps over coming years.