Company History : Celanese Corporations Essay

989 Words Sep 15th, 2016 4 Pages
2. Company History
2.1 Background The beginning of Celanese Corporations began with two Switzerland brothers, Dr. Camille and Henri Dreyfus, who were chemical pioneers. The two brothers started their business in 1912 by producing fireproof celluloid out of cellulose acetate and named their company “Cellonit Gesellschaft Drefyus & Co.” based in Basle, Switzerland. After World War I ended the Dreyfus brothers saw the potential of the company expanding to America where they predicted their sales would rise. In 1918 “The American Cellulose & Chemical Manufacturing Co.” was born, “Amcelle” for short. By 1924 Amcelle started producing cellulose acetate in the states, and began to expand to Canada and Mexico, both being a publicly traded company. During this time Amcelle was renamed Celanese Corporation of America, and in 1930 started trading on the New York Stock Exchange. Throughout the years Celanese has acquired new business partnerships and joint ventures in the U.S and other countries. Celanese Corporation of America and Hoechst AG set up a joint venture in 1987. Hoechst AG acquires Celanese Corporation for $2.85 billion. By 1999, Celanese acquires new global chemicals like cellulose acetate, phosphorous, and chlorine. Big things were happening between 2000 and 2003 when Celanese started building 500,000 metric ton acetic acid plants in Singapore and China. In 2004 Celanese changes their name to Celanese Corporation; the company as we know it today.
Today Celanese is…

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