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NATIONAL STARCH ANNOUNCES AGREEMENT TO SELL EMULSION POLYMERS BUSINESS
National Starch and Chemical Co. has announced an agreement to sell its U.S., Canadian and European Vinamul emulsion polymers business to Celanese for U.S. $208 million. Completion of the transaction is subject to regulatory approvals. The Vinamul emulsion polymers business is a supplier of specialty emulsion polymers for the paper, nonwovens, textiles, paints, adhesives and building products industries. Its product line includes vinyl acetate homopolymer and ethylene vinyl acetate, acrylic, and vinyl acrylic emulsions. The business had 2003 sales of $335 million and an operating profit of $18 million. It employs approximately 600 people, who will transfer to Celanese.