Neo polyol esters are used as base stocks for synthetic lubricants in refrigeration, automotive, aviation and industrial applications, as well as in hydraulic fluids. According to Hatco, the Oberhausen plant is expected to supply customers in Western Europe, Africa and the Middle East.
Celanese officials said they see excellent growth opportunities in synthetic lubricants and that they expect the joint venture to be a market leader in a range of products. Celanese will supply the plant with its primary raw materials – carboxylic acids and polyols.
A major expansion into Europe has long been our goal, Hatco Chief Executive Officer Alex Kaufman said, and doing it with a partner that produces most of our key raw materials provides the basis for assured success.
Celanese, of Frankfurt, Germany, is a global chemical company which reported revenue of Euro 5.1 billion (U.S. $4.5 billion) in 2001.