Industry News

Celanese Announces Senior Executive Responsibilities across Key Global Businesses

Published on 2005-07-28. Author : SpecialChem

DALLAS -- Celanese Corporation (NYSE: CE) announced the appointment of three senior executives to lead areas of the company that are key to Celanese's strategy of strengthening growth and productivity. These management changes will help Celanese to focus on regional growth opportunities in Asia, capitalize on its leading position in acetyls and consolidate its global supply management function to drive productivity.

Celanese Executive Vice President Lyndon Cole, currently president of Ticona, has added to his responsibilities leadership for the entire Asia region. "Lyndon's extensive global experience will help Celanese play a leading role in Asia and deliver on the opportunities this fast-growing region represents to our future," says Celanese President and Chief Executive Officer Dave Weidman. "Lyndon has done significant work in Asia and is in a great position to help our leadership in China and Japan succeed."

Cole joined Celanese in 2002 from Elementis PLC, where he was chief executive officer, and has also held high-level positions at GE Plastics, Dow Chemicals Europe and ICI.

Celanese recently announced its intention to construct two new facilities in China to manufacture emulsions polymers and GUR, the company's trademark ultra-high molecular weight polyethylene. In addition, Celanese is currently constructing a world scale acetic acid plant at the Nanjing Industrial Park and expanding its China acetate joint ventures.

John O'Dwyer has been named president of the Celanese acetyls business, following his previous position as vice president, Strategic Procurement and Service Management. According to Weidman, "John is one of the most experienced business leaders in our industry. In his 25 year career with Celanese, John has driven the development of our world-class proprietary AO+ technology, and is responsible for our market leadership in the acetyls business."

Celanese Chemicals announced in mid-July that it received approval from the European Commission to acquire Acetex Corporation, a leading European acetyls producer. Included in the acquisition is a joint venture for a planned world-scale acetyls plant in Saudi Arabia. "Earlier this year, we acquired ICI's emulsions polymers business, further enhancing our value chain," said Weidman. "We look forward to delivering heightened performance from these businesses under John's leadership."

Tim Fiore has recently joined Celanese as senior vice president, Supply Management. He comes to Celanese from Ryder Systems, Inc., where he was senior vice president and chief procurement officer, as well as president of Ryder Energy Distribution Company. Prior to this, Fiore had a broad 23-year career with United Technologies, serving in executive positions within Hamilton Sundstrand, Otis Elevators, Carrier Corporation, United Technologies Research Center, United Technologies Optical Systems and Pratt & Whitney Aircraft.

Fiore has an extensive global background in procurement, supply chain, purchasing, materials and quality assurance. "With Tim's appointment, we are advancing our efforts to be among the most efficient companies in our industry. Tim will help us to optimize our supply management function and accelerate activities to capture productivity and fuel growth as we continue to expand in the world's fastest growing regions. Under Tim's direction, we expect to realize approximately $100 million in savings through supply management in the coming two to three years," said Weidman.

Today's management changes reflect Celanese's commitment to strengthening its leadership team and maximizing existing talent in order to drive performance across the Company's core business areas.

About Celanese

Celanese Corporation (NYSE:CE) is an integrated global producer of value-added industrial chemicals based in Dallas, Texas.

The Company has four major businesses: Chemicals Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has production plants in 12 countries in North America, Europe and Asia. In 2004, Celanese Corporation and its predecessor had combined net sales of $5.1 billion. The presentation of combined net sales of Celanese Corporation with its predecessor is not in accordance with U.S. GAAP.

Source: Celanese Corporation

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