Celanese Completes Acquisition of SO.F.TER. Group
December 01 2016 - 9:29AM
Business Wire
Extends global engineered materials leadership
position; expands ETP and TPE portfolio through acquisition of
leading producer
Celanese Corporation (NYSE: CE), a global technology and
specialty materials company, today announced it has completed the
transaction to acquire the Forli, Italy based SO.F.TER. Group, one
of the world’s largest independent thermoplastic compounders.
Celanese has acquired SO.F.TER. Group’s comprehensive product
portfolio of engineering thermoplastics (ETPs), thermoplastic
elastomers (TPEs), as well as all customer agreements and all
manufacturing, technology and commercial facilities.
The acquisition nearly doubles the number of Celanese global
engineered materials product platforms and further extends
Celanese’s world-class operational model, technical and industry
solutions capabilities, and project pipeline.
“This extended portfolio – complementary to our global
engineered materials business – will be integrated with Celanese’s
materials capabilities and operational model to increase
opportunities for engaging customers across highly diverse
application areas where functionality and design freedom are
critical to material selection,” said Scott Sutton, Celanese
executive vice president and president of Materials Solutions.
“Additionally, SO.F.TER. Group’s sophisticated and modern
manufacturing facilities and product portfolio provide a vehicle
for additional growth, investment and synergies.”
Financial details of the transaction were not disclosed.
Celanese announced its agreement to acquire SO.F.TER. Group in
October 2016.
About Celanese
Celanese Corporation is a global technology leader in the
production of differentiated chemistry solutions and specialty
materials used in most major industries and consumer applications.
Our two complementary business cores, Acetyl Chain and Materials
Solutions, use the full breadth of Celanese’s global chemistry,
technology and business expertise to create value for our customers
and the corporation. As we partner with our customers to solve
their most critical business needs, we strive to make a positive
impact on our communities and the world through The Celanese
Foundation. Based in Dallas, Celanese employs approximately 7,000
employees worldwide and had 2015 net sales of $5.7 billion. For
more information about Celanese and our product offerings, visit
www.celanese.com or our blog at www.celaneseblog.com.
All registered trademarks are owned by Celanese International
Corporation or its affiliates.
Forward-Looking Statements
This release may contain “forward-looking statements,” which
include information concerning the company’s plans, objectives,
goals, strategies, future revenues or performance, capital
expenditures and other information that is not historical
information. When used in this release, 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, including the
announced stock purchase transaction. There can be no assurance
that the company or its customers will realize these benefits or
that these expectations 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, including with respect to the acquisition. 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. Other risk factors include those that
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161201005816/en/
Celanese CorporationInvestor RelationsSurabhi
Varshney, +1-972-443-3078surabhi.varshney@celanese.comorMedia
Relations – GlobalW. Travis Jacobsen,
+1-972-443-3750william.jacobsen@celanese.comorMedia Relations
Asia (Shanghai)Helen Zhang, +86 21 3861
9279lan.zhang@celanese.comorMedia Relations Europe
(Germany)Jens Kurth, +49(0)69 45009
1574j.kurth@celanese.com
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