Celanese’s history can be traced back to 1918 when the American Cellulose & Chemical Manufacturing Company was established by Camille Dreyfus in New York. Meanwhile, a Celanese plant was situated in Amcelle, Maryland. The said plant was served by the Baltimore and Ohio Railroad. It was also a major consumer of coal. The plant received bulk shipments of raw cotton fiber and other industrial chemicals. The plant became a major employer in Allegany County and at one point, about 13,000 employees worked there.
The American Cellulose & Chemical Manufacturing Company plant was set up during the First World War to develop cheaper fabric for the manufacture of airplanes. The plant was built inland to be safe from Zeppelin attacks, and was also situated near ready source of water at the Potomac River. Actual production began in 1924. In 1927, the company changes its name to Celanese Corporation of America. In 1986, its pharmaceutical division was spun off as Celgene. In 1987, it was acquired by Hoechst and was merged with its American subsidiary, American Hoechst, forming Hoechst Celanese Corporation.
In 1998, parent company Hoechst combined most of its industrial chemical businesses to a new company, Celanese AG. In 1999, it was spun off as a publicly traded German corporation. It was traded on both New York and Frankfurt stock exchanges. In December 2003, the Blackstone Group announced a takeover offer for the company, after two years of dealing with the management. The acquisition was completed on June 16, 2004. It was delisted from the New York Stock Exchange and its name was changed to Celanese Corporation.
On January 21, 2005, the corporation conducted an initial public offering, becoming a publicly traded corporation on the New York Stock Exchange.