celanese 2009_february_roadshow_presentation

1

Celanese CorporationFebruary 2009

2

Forward looking statements; Reconciliation and use of non-GAAP measures to U.S. GAAP This presentation may contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. When used in this presentation, the words “outlook,”“forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release. Numerous factors, many of which are beyond the company’s control, could cause actual results to differ materially from those expressed as forward-looking statements. Certain of these risk factors are discussed in the company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.

This presentation reflects three performance measures, operating EBITDA, adjusted earnings per share and adjusted free cash flow as non-U.S. GAAP measures. The most directly comparable financial measure presented in accordance with U.S. GAAP in our consolidated financial statements for operating EBITDA is operating profit; for adjusted earnings per share is earnings per common share-diluted; and for adjusted free cash flow is cash flow from operations.

►Operating EBITDA, a measure used by management to measure performance, is defined as operating profit from continuing operations, plus equity in net earnings from affiliates, other income and depreciation and amortization, and further adjusted for other charges and adjustments. We provide guidance on operating EBITDA and are unable to reconcile forecasted operating EBITDA to a GAAP financial measure because a forecast of other charges and other adjustments is not practical. Our management believes operating EBITDA is useful to investors because it is one of the primary measures our management uses for its planning and budgeting processes and to monitor and evaluate financial and operating results. Operating EBITDA is not a recognized term under U.S. GAAP and does not purport to be an alternative to operating profit as a measure of operating performance or to cash flow from operations as a measure of liquidity. Because not all companies use identical calculations, this presentation of operating EBITDA may not be comparable to other similarly titled measures of other companies. Additionally, operating EBITDA is not intended to be a measure of free cash flow for management’s discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements nor does it represent the amount used in our debt covenants.

►Adjusted earnings per share is a measure used by management to measure performance. It is defined as net earnings (loss) available to common shareholders plus preferred dividends, adjusted for other charges and adjustments, and divided by the number of basic common shares, diluted preferred shares, and options valued using the treasury method. We provide guidance on an adjusted earnings per share basis and are unable to reconcile forecasted adjusted earnings per share to a GAAP financial measure because a forecast of other charges and other adjustments is not practical. We believe that the presentation of this non-U.S. GAAP measure provides useful information to management and investors regarding various financial and business trends relating to our financial condition and results of operations, and that when U.S. GAAP information is viewed in conjunction with non-U.S. GAAP information, investors are provided with a more meaningful understanding of our ongoing operating performance. This non-U.S. GAAP information is not intended to be considered in isolation or as a substitute for U.S. GAAP financial information.

►The tax rate used for adjusted earnings per share is the tax rate based on our original guidance communicated at the company’s investor day in December 2007. We adjust this tax rate during the year only if there is a substantial change in our underlying operations; an updated forecast would not necessarily result in a change to our tax rate used for adjusted earnings per share. The adjusted tax rate may differ significantly from the tax rate used for U.S. GAAP reporting in any given reporting period. It is not practical to reconcile our prospective adjusted tax rate to the actual U.S. GAAP tax rate in any future period.

►Adjusted free cash flow is defined as cash flow from operations less capital expenditures, other productive asset purchases, operating cash from discontinued operations and certain other charges. We believe that the presentation of this non-U.S. GAAP measure provides useful information to management and investors regarding changes to the company’s cash flow. Our management and credit analysts use adjusted free cash flow to evaluate the company’s liquidity and assess credit quality. This non-U.S. GAAP measure is not intended to be considered in isolation or as a substitute for U.S. GAAP financial information.

3

Celanese: a leading global integrated producer of chemicals and advanced materials

Leading Global Integrated Producer

of Chemicals and Advanced Materials

ExecutionDemonstrated track record

of delivering results

StrategyClear focus on growth and

value creation

CultureStrong performance

built on shared principles and

objectives

Superior Value Creation► Industry Leader

● Geographically balanced global positions

● Diversified end market exposure

► Solid Cash Generation

► Significant Strategic Growth Capability

● Track record of execution

● Clearly defined opportunities

4

Globally balanced and integrated businesses aligned to sustain value and accelerate growth

Acetyl Intermediates (AI)

Formaldehyde

Differentiated Intermediates Specialty ProductsBuilding Block

Raw Materials

Advanced Engineered Materials

(AEM)

Industrial Specialties

(IS)

Consumer Specialties

(CS)

Ticona Engineering

Polymers

Emulsions

Acetate

AT Plastics

Nutrinova

PVOH

Affiliates

Acetic Acid

Anhydride and esters

VAM

5

Celanese executes against a simple strategic foundation

Divest non-core assets and revitalize underperforming

businesses

Aggressively align with our customers

and their markets to capture growth

Participate in businesses where we have a sustainable competitive

advantage

Leverage and build on advantaged positions that

optimize our portfolio

FOCUS

GROWTH

REDEPLOYMENT INVESTMENTCelaneseStrategic

Pillars

6

Operating EBITDA1

Today’s portfolio: more resilient with increased specialty focus

► Strategic objectives continue to drive specialty focus● Essentially all growth has come

from specialty businesses since 2005

● Able to maintain relatively stable contributions from specialties in an uncertain environment

► Resulting in:● Increased overall earnings

power of the portfolio● Reduced volatility● Higher level of normalized

earnings

-

200

400

600

800

1,000

1,200

1,400

2005 2007 2008

12005, 2007 and 2008 Operating EBITDA excludes Other Activities of ($122), ($82) and ($87), respectively, for the periods presented

61%

39%

53%

47%

Acetyl Intermediates

Consumer and Industrial SpecialtiesAdvanced Engineered Materials

$ in

mill

ions

46%

54%

7

2008 financial performance

$1,294$1,169$349$68Operating EBITDA

$748$440$324($152)Operating Profit/(Loss)

$372

$2.77

$6,823

FY 2008

$0.93

$1,760

4th Qtr 2007$ in millions (except EPS) 4th Qtr 2008 FY 2007

Sales $1,286 $6,444

Adjusted EPS ($0.38) $3.29

Adjusted Free Cash Flow $385

Fourth quarter 2008 results characterized by:► Sustained earnings performance from our Consumer Specialties business

► Solid cash generation

► Unprecedented end-consumer supply chain destocking

► Global recessionary trends driving weakness in industrial and consumer demand

► Inventory accounting impact of ~$0.48/share included in Adjusted EPS1

1$101 million inventory accounting impact tax effected at 26% divided by 155.9 million diluted shares for the three months ended December 31, 2008

8

2008 portfolio components – financial highlights

Celanese($ in millions)

2008 Revenue1,2: $6,823 2008 Operating EBITDA2: $1,169

Acetyl IntermediatesConsumer and Industrial Specialties


► Leading global producer of engineered polymers

► Strategic affiliates in Asia

► Leading global producer of cellulose acetate products

► Leading global producer of vinyl emulsion products

► Leading global integrated producer of acetyl products

► Significant presence in all three major regions

2008 Revenue1: $3,1992008 Operating EBITDA: $676

2008 Revenue: $2,5612008 Operating EBITDA: $410

2008 Revenue: $1,0612008 Operating EBITDA: $170

1Represents third party net sales for 20082Total 2008 Revenue and Operating EBITDA includes Other Activities of $2 and ($87), respectively

9

Peak and trough relative performanceRelative Peak versus Trough Quarter – Operating EBITDA


Acetyl IntermediatesAdvanced Engineered Materials

Consumer SpecialtiesOther Activities

Trough defined as four quarters of sustained -1% to 1% global GDPNote: Earnings from strategic affiliates included in total Operating EBITDA amounts but excluded from margin % amounts

Ope

ratin

g EB

ITD

A 18 – 20%

8 – 10%

22 – 25%18 – 20%

21 – 23%

Normalized Trough Conditions

10 – 12%

13 – 15% ► Seasonality

► Inventory accounting impacts

► Customer destocking

Fourth Quarter Impacting Factors

Normalized Peak Conditions

20 – 22%

10

Portfolio well-positioned to deliver and execute

► Leading global position provides solid platform► GDP+ driven volumes► Advantaged technology and cost position


► Relatively economically insensitive with stable earnings and cash flows

► Selective growth opportunities through customer partnerships


► GDP driven volumes► Downstream integration mitigates volatility► Opportunities for growth through innovation and globalization


► Innovation and extensive portfolio provides platform► Executing on value recovery opportunities► Automotive and durable good volumes drive market growth


Value Creation supported by solid cash generation, fiscal discipline and an optimized leverage portfolio

11

Trajectory of the portfolio for 2009

► Once destocking moderates, volumes expected to be at reduced levels in-line with weaker global demand

► Expect margins to stabilize based on advantaged technology and cost position


► Stable volumes expected in 2009► Continued margin expansion with ongoing decreases in

energy and raw material costs


► Volumes remain challenged in North America and Europe► Continued success in Asia and new product development ► Raw material and energy cost reductions should positively

impact margins


► Further reductions in US and Europe auto builds continue to pressure volumes

► Sustained higher pricing and easing input costs should contribute to margin recovery


12

~$1.5 billion on an annual basis

Strengthen Manufacturing Footprint

Identifying and executing actions to reduce spending

Global Fixed Spending

Lower Scalable CostsReduce Fixed Spending

►Non-energy, non-scalable costs:• SG&A• Manufacturing• R&D• Other areas

►~$100 - $120 million already identified, sustainable reductions

►Additional opportunities to be identified

►Assessing potential closures:• Pardies Acid & VAM units• Cangrejera VAM unit

►Other actions being considered

►Reduce scalable spending through:• Block production at batch

manufacturing facilities• Eliminate/reduce use of outside

contractors• Decreased distribution costs

►Identified actions could yield ~$60 million in savings –demand dependent

Fixed spending reductions position the portfolio to expand earnings

13

CS Operating EBITDA 2004 – 2010E

0

50

100

150

200

250

300

350

2004 2005 2006 2007 2008 2009E 2010E

$ in

mill

ions

CS: relatively economically insensitive with stable earnings and cash flows

► Acetate Products revitalization completed in 2007

► Full synergy capture of APL acquisition by 2008

► Nutrinova to offset price declines with volume increases

► Modest growth beyond 2008:

Growth in Asia continues at ~2%per yearSustainable Operating EBITDA

1Dividends from cost investments

Asian Growth1

Growth Objective

Nutrinova Operating EBITDA

Acetate Base Operating EBITDA

European Initiative

North America/Europe Revitalization

14

Profit Added Through Chain

Production and Market Driven

Prof

it R

ange

per

Ton

of

Ace

tic A

cid

Increased Value

Acid Margin Sell Acid as VAM

Technology and Customer Driven

IS: downstream integration mitigates earnings volatility

Reduced Volatility

Peak Average TroughEa

rnin

gs Im

prov

emen

t per

To

n of

Ace

tic A

cid

~30%

Cycle volatility reduction

~10%

~35%

Acetyls versus Integrated Downstream

Sell VAM as VAE

Total MarginAvailable

► Higher overall earnings through integrated chain► Lower earnings volatility with downstream integration

15

0.0

1.0

2.0

3.0

4.0

2006 Future

Global Vinyl Emulsions Applications Driving Future Growth

OthersCelanese

IS: opportunities for growth through innovation and globalization

$ in

bill

ions

ApplicationsFuture

Application Sales ($MM)

Growth Rate

Low VOC and nanopaints $400 – $500 10+%

Engineered fabrics/glass fiber $200 – $300 3% - 5%

Enviro-friendly adhesives $100 – $200 8%

China building/construction $100 – $200 30+%

~25%

$1.0 billion expansion = >$250 million in revenue

~30% increase in vinyl space

>25%

16

AEM: value recovery opportunities through easing input costs and pricing initiatives

► Significantly high raw material and energy costs impacted margins since 2005

► Successful pricing actions and falling raw material costs drive margin expansion opportunities

Indexed Variable Margin per Unit

Varia

ble

Mar

gin

as a

% o

f Sal

es

0%

25%

50%

75%

100%

2005 2006 2007 2008

Pricing

Raw Materials & Energy

Current Trends

17

AEM: automotive and durable good volumes drive market growth

► Current North American and European unit production trends under significant pressure

Shift to smaller, more fuel efficient vehiclesLimited credit availability

► Value per vehicle expected to continue significant growth trend

► Expansion in Asia adds organic growth opportunities

► Increased focus on product development applications

Metal replacementFuel efficiency/Alternative fuelsIncreased electronics

Source: Celanese estimates

Growth in Value per Vehicle North America & Europe

0%

4%

8%

12%

16%

20%

2006 2007 2008

Gro

wth

in v

alue

inde

xed

to 2

005

18

AI: advantaged technology and cost position

Source: Celanese estimates, available public data

2009E Acetic Acid Cost Curve (kt) (based on nameplate capacity)

0% 15% 30% 45% 60% 75% 90%

EthanolEthylene

By Prod

Avg Non-China MeOH Carbonylation

Avg Other Leading Technology

Highest Cost China MeOH

Assumes Oil at $60/barrel

Lower Cost China MeOH

Average Celanese


>15% ROIC

Effective Industry Utilization Rates

19

Celanese capital structure

Term Loan - $2.8 billion

Other Debt Obligations -$739 million

Cash - $676 million

Net Debt* - $2.4 billion

Revolver - $650 million

Cost

Stability

Flexibility

Structure CharacteristicsPrimary Components

Strong balance sheet provides flexibility and stability in current environment

Credit Linked Revolver -$137 million

Sour

ces

of L

iqui

dity

Deb

t Obl

igat

ions

Advance Fraport Payment ~$415 million

* Represents proforma net debt including receipt of advance payment from Fraport

20

► Cash taxes expected to align with adjusted earnings profile

► Productivity improvements and cost reduction programs remain a priority

► Net Interest expense based on current expectations of rates

► Available funding credits to significantly offset required pension contributions over the next two years

Assumptions

2009 cash flow elements

$80 - $90Dividends/Debt Service

$350 - $370Kelsterbach Relocation

$50 - $60Reserve Spending

$220 - $230Net Interest

$50 - $60Pension

$80 - $120Cash Taxes

Capital Expenditures $150 - $175

Elements of Cash Flows*$ in millions

~$415Fraport Advance Payment

*Starting from an Operating EBITDA base

21

Continued financial flexibility

Stable, Flexible & Low Cost

► Advantages of structure:►LIBOR +150 – 175 bps

►Term loan maturity not until 2014

►1% annual term loan amortization

► “Covenant-lite” – no financial maintenance covenants on term loan

► Net debt is ~75% fixed with a 2008 average borrowing cost of ~6.96% 2009 2010 2011 2012 2013 Thereafter

$ in

mill

ions

3,000

100

Long-Term Debt Repayment

22

Appendix

23

Fourth Quarter 2008:► Net sales increase primarily driven by higher pricing which more than offset

lower volumes and unfavorable currency ► Easing raw material and energy costs resulted in margin expansion► Operating EBITDA improvement demonstrates sustained earnings

performance during challenging economic environment


$57$279

4th Qtr 2007

$293$1,155

FY 2008

$274$1,111

FY 2007

$65 $286

4th Qtr 2008

Operating EBITDANet Salesin millions

24

Fourth Quarter 2008:► Net sales decrease primarily driven by lower volumes and unfavorable

currency effects► Higher pricing helped to offset significant volume declines► Inventory accounting impacts ($15 million) and lower volumes primary

reason for decrease in Operating EBITDA


$41$331

4th Qtr 2007

$117$1,406

FY 2008

$119$1,346

FY 2007

$8$277

4th Qtr 2008


25

$45$253

4th Qtr 2007

$170$1,061

FY 2008

$252$1,030

FY 2007

($3)$195

4th Qtr 2008



Fourth Quarter 2008:► Net sales decreased as positive pricing actions and improved mix could not

offset significant volume pressures► Substantial reductions in US and European automotive production but only

modest declines in many non-automotive applications► Operating EBITDA loss due to lower volumes, inventory accounting impacts

($23 million) and lower affiliate earnings

26


$231$1,083

4th Qtr 2007

$676$3,875

FY 2008

$731$3,615

FY 2007

$21$656

4th Qtr 2008


Fourth Quarter 2008:► Decrease in net sales due to substantial volume declines and lower pricing ► Global recessionary trends and unprecedented inventory destocking drove

decreased volumes ► Lower raw material and energy costs could not offset lower volumes and

inventory accounting impacts ($63 million)► Dividends from the Ibn Sina contributed $29 million to Operating EBITDA

27

Reg G: Reconciliation of Adjusted EPS

Adjusted Earnings (Loss) Per Share - Reconciliation of a Non-U.S. GAAP Measure

(in $ millions, except per share data) 2008 2007 2008 2007Earnings (loss) from continuing operations before tax and minority interests (178) 313 439 447 Non-GAAP Adjustments: Other charges and other adjustments 1 105 (93) 171 82 Refinancing costs - - - 254 Adjusted Earnings (loss) from continuing operations before tax and minority interests (73) 220 610 783 Income tax (provision) benefit on adjusted earnings 2 19 (62) (159) (219) Minority interests - (1) 1 (1) Adjusted Earnings (loss) from continuing operations (54) 157 452 563 Preferred dividends (2) (3) (10) (10) Adjusted net earnings (loss) available to common shareholders (56) 154 442 553 Add back: Preferred dividends 2 3 10 10 Adjusted net earnings (loss) for adjusted EPS (54) 157 452 563

Diluted shares (millions)Weighted average shares outstanding 143.5 151.7 148.4 154.5 Assumed conversion of Preferred Shares - 12.0 12.0 12.0 Assumed conversion of Restricted Stock - 0.6 0.5 0.3 Assumed conversion of stock options - 4.3 2.6 4.4 Total diluted shares 143.5 168.6 163.5 171.2 Adjusted EPS (0.38) 0.93 2.77 3.29 1 See Table 7 for details2 The adjusted tax rate for the three and twelve months ended December 31, 2008 is 26% based on the forecasted adjusted tax rate for 2008.3 The impact of inventory accounting adjustments on Adjusted EPS is $0.48 calculated as $101 million tax effected at 26% divided by 155.9 million diluted shares for the three months ended December 31, 2008.

Twelve Months EndedDecember 31,

Three Months EndedDecember 31,

28

Reg G: Other Charges and Other Adjustments

Reconciliation of Other Charges and Other AdjustmentsOther Charges:

(in $ millions) 2008 2007 2008 2007Employee termination benefits 2 5 21 32 Plant/office closures - 7 7 11 Insurance recoveries associated with plumbing cases - (2) - (4)Long-term compensation triggered by Exit Event - - - 74 Asset impairments 94 - 115 9 Clear Lake insurance recoveries (15) (40) (38) (40)Resolution of commercial disputes with a vendor - (31) - (31)Sorbates settlement - - (8) - Ticona Kelsterbach plant relocation 4 1 12 5 Other (1) - (1) 2 Total 84 (60) 108 58

Other Adjustments: 1

IncomeStatement

(in $ millions) 2008 2007 2008 2007 ClassificationEthylene pipeline exit costs - - (2) 10 Other income (expense), netBusiness optimization 6 8 33 18 SG&AForeign exchange loss related to refinancing transaction - - - 22 Other income (expense), netTicona Kelsterbach plant relocation 2 - (4) - Cost of salesPlant closures 9 - 23 - Cost of salesAT Plastics films sale - - - 7 Gain on dispositionGain on Edmonton sale - (34) - (34) Gain on dispositionOther 4 (7) 13 1 Various Total 21 (33) 63 24

Total other charges and other adjustments 105 (93) 171 82 1 These items are included in net earnings but not included in other charges.

December 31, December 31,

Three Months Ended Twelve Months Ended

Three Months Ended Twelve Months Ended

December 31, December 31,

29

Reg G: Reconciliation of Operating EBITDASe

gmen

t Dat

a an

d R

econ

cilia

tion

of O

pera

ting

Prof

it (L

oss)

to O

pera

ting

EBIT

DA

- a

Non

-U.S

. GAA

P M

easu

re

(in $

mill

ions

)20

0820

0720

0820

07N

et S

ales

Adv

ance

d E

ngin

eere

d M

ater

ials

195

25

31,

061

1,

030

Con

sum

er S

peci

altie

s28

6

279

1,15

5

1,11

1

I

ndus

trial

Spe

cial

ties

277

33

11,

406

1,

346

Ace

tyl I

nter

med

iate

s65

6

1,08

33,

875

3,

615

Oth

er A

ctiv

ities

11

02

2

I

nter

segm

ent e

limin

atio

ns(1

29)

(186

)(6

76)

(660

)

To

tal

1,28

6

1,

760

6,82

3

6,44

4

Ope

ratin

g Pr

ofit

(Los

s) A

dvan

ced

Eng

inee

red

Mat

eria

ls(4

8)

30

32

133

C

onsu

mer

Spe

cial

ties

52

69

190

19

9

Ind

ustri

al S

peci

altie

s(8

)

26

47

28

A

cety

l Int

erm

edia

tes

(116

)

27

6

309

61

6

Oth

er A

ctiv

ities

1(3

2)

(77)

(1

38)

(228

)

To

tal

(152

)

32

4

440

74

8

Equi

ty E

arni

ngs,

Cos

t - D

ivid

end

Inco

me

and

Oth

er In

com

e (E

xpen

se)

Adv

ance

d E

ngin

eere

d M

ater

ials

5

7

37

55

Con

sum

er S

peci

altie

s(2

)

3

47

40

Ind

ustri

al S

peci

altie

s-

-

-

-

A

cety

l Int

erm

edia

tes

30

27

125

78

O

ther

Act

iviti

es 1

3

8

20

-

To

tal

36

45

229

17

3

Oth

er C

harg

es a

nd O

ther

Adj

ustm

ents

2

Adv

ance

d E

ngin

eere

d M

ater

ials

22

(10)

25

(5

)

Con

sum

er S

peci

altie

s2

(27)

3

(16)

I

ndus

trial

Spe

cial

ties

2

(1

)

13

32

A

cety

l Int

erm

edia

tes

75

(97)

10

8

(69)

O

ther

Act

iviti

es 1

4

42

22

14

0

Tota

l10

5

(93)

17

1

82

Dep

reci

atio

n an

d Am

ortiz

atio

n Ex

pens

e A

dvan

ced

Eng

inee

red

Mat

eria

ls18

18

76

69

C

onsu

mer

Spe

cial

ties

13

12

53

51

Ind

ustri

al S

peci

altie

s14

16

57

59

A

cety

l Int

erm

edia

tes

32

25

134

10

6

Oth

er A

ctiv

ities

12

2

9

6

To

tal

79

73

329

29

1

Ope

ratin

g EB

ITD

A A

dvan

ced

Eng

inee

red

Mat

eria

ls(3

)

45

17

0

252

C

onsu

mer

Spe

cial

ties

65

57

293

27

4

Ind

ustri

al S

peci

altie

s8

41

117

11

9

Ace

tyl I

nter

med

iate

s21

23

1

676

73

1

Oth

er A

ctiv

ities

1(2

3)

(25)

(8

7)

(82)

To

tal

68

349

1,

169

1,29

4

1 O

ther

Act

iviti

es p

rimar

ily in

clud

es c

orpo

rate

sel

ling,

gen

eral

and

adm

inis

trativ

e ex

pens

es a

nd th

e re

sults

from

cap

tive

insu

ranc

e co

mpa

nies

.2 S

ee T

able

7.

Thre

e M

onth

s En

ded

Dec

embe

r 31,

Tw

elve

Mon

ths

Ende

dD

ecem

ber 3

1,

30

Reg G: Reconciliation of Net Debt

December 31, December 31,(in $ millions) 2008 2007Short-term borrowings and current installments of long-term debt - third party and affiliates 233 272Long-term debt 3,300 3,284Total debt 3,533 3,556Less: Cash and cash equivalents 676 825Net Debt 2,857 2,731

Reg G: 2007 – 2008 Adjusted Free Cash Flow

2007 2008Net cash provided by operating activities 566 573 Adjustments to operating cash for discontinued operations 84 (3) Capital expenditures (288) (274) Other charges and adjustments1 23 76 Adjusted free cash flow 385 372

1Amounts primarily associated with certain other charges and adjustments and the cash outflows for purchases of other productive assets that are classified as ‘investing activities’ for U.S. GAAP purposes

Date post:	08-May-2015
Category:	Economy & Finance
Upload:	finance44
View:	253 times
Download:	0 times

celanese 2009_february_roadshow_presentation

Economy & Finance