solvay to acquire celanese corp. plant - polyester film plant
Herbert in Kush cut Seth
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Celanese announced yesterday that it had reached an agreement in principle with S. Solvay & CieA.
A large chemical manufacturer based in Brussels, sells a high density polyethylene plant at the Deer Garden in Texas.
The plant produces approximately 0. 4 billion lbs of polyethylene resin particles per year for bottle and other packaging requirements.
Under the terms of the agreement, Celanese will supply some ethylene raw materials for the Luyuan plant for a period of five years.
Chemical producer Celanese produces plastics, fibers, paints and coatings.
A spokesman for the company said the proposed sales would enable the company to use its capital and human resources, such as resin and polyester film, on products with a strong market position in Celanese.
In addition to producing high-density polyethylene, Sovey is expected to participate in the production of polypropylene in the United States, the spokesman said.
Polypropylene is used for fiber and plastics. AdvertisementU. S.
The Justice Department said in Washington yesterday it plans to "update" its investigation into the National Steel Company's acquisition of Granite Steel in 1971.
The merger has been a controversial topic since the Nixon administration allowed it to merge, as critics believe it will encourage other mergers in the steel industry.
However, the Justice Department declined to explain the reasons for the re-hearing of antitrust cases.
Pittsburgh-based National Steel bought Granite City for more than $84.
The national steel company declined to comment on the statement from the Justice Department.
Northern Power, which bought Northern Power in Montreal for $12, is the manufacturer of telephones and other communications equipment, the company said yesterday, it will buy outstanding shares of Dictaphone for $12 per share.
On Tuesday morning, tape recorders on the New York Stock Exchange suspended trading.
No update yesterday.
The northern power company started with John C. on Tuesday.
Lobb, chairman of Nortel, met with E.
Later on Tuesday, Lawrence Tabart, president of the dictation recorder, discussed the proposal.
Bell Telephone Canada, which owns 137,200 of Northern Electric, disclosed that it had purchased a tape recorder in the open market for an average of $7. 88 a share.
The oral recorder makes oral equipment and similar equipment.
Nortel's offer for the remaining 3,865,356 shares will expire on October.
, As the Dealer Manager of the bid quotation.
A version of the file was printed on page 39 of the New York edition on September 26, 1974 under the title: Solvey's acquisition of Celanese Corp. Plant.