Celanese Corporation has lodged a complaint against BOC in Texas.
The complaint is related to the development by Celanese Corporation and Celanese (Nanjing) Chemical (\\$quot;˜Celanese\\$quot;) of a new acetic acid manufacturing plant in Nanjing, China and associated industrial gas supply arrangements.
The amounts claimed are $250m for compensatory damages and an additional amount in exemplary damages, suggesting a total of no less than $960m. Celanese has not served the complaint on BOC.
BOC believes the case to be completely without merit and it will vigorously defend it. BOC notes the timing of this complaint and that Celanese gave no indication of a proposed claim prior to its notification of intended legal action.
Following notification Linde has informed BOC that it expects the final pre-condition to the offer (which relates to anti-trust) by Linde AG for BOC to be satisfied within the next month and that the scheme document will be despatched to BOC shareholders immediately thereafter. The consent of the High Court to the despatch of the scheme document has been obtained. Completion of the offer is still expected to take place in the third calendar quarter of 2006.