German bulk chemicals group Celanese is combining its oxo-chemicals operation with those of speciality chemicals company Degussa in order to cut costs.

Celanese has instigated a wide ranging restructuring since being formed from the chemical division of Hoechst in 1999 and has closed 15 sites, mainly in Germany, to cut costs.

Degussa was formed by the merger of Veba and Viag's chemicals interests in 2000 and has divested itself of various businesses to focus on the higher margin specialty chemicals business. Companies that have been sold include TFL (Together for Leather), Phenolchemie, the precious metal subsidiary, dmc2, the gelatine, dental and oncology businesses, as well as AWD Pharma.

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