Celanese Completes Acquisition of Santoprene™ TPV Elastomers Business
December 01 2021 - 4:15PM
Business Wire
Brings a global leader and flagship brand in
thermoplastic vulcanizates (TPV) to Engineered Materials’ leading
customer solution set
Celanese Corporation (NYSE: CE), a global chemical and specialty
materials company, today announced it has completed the acquisition
of the Santoprene™ TPV elastomers business of Exxon Mobil
Corporation.
“We are excited to welcome the Santoprene™ team to Celanese,”
said Lori Ryerkerk, chairman and chief executive officer. “They
have built an industry-renowned brand and product portfolio in the
Santoprene™ business that will immediately strengthen the unrivaled
portfolio of engineered solutions we bring to our customers. We
look forward to the partnership of our commercial and technical
teams to take a wider range of Engineered Materials’ solutions into
targeted growth areas that will generate meaningful shareholder
value.”
The Company announced the acquisition of the Santoprene™
business in June 2021 for a total purchase price of $1.15 billion.
As part of the transaction, Celanese has acquired the
following:
- Santoprene™, Dytron™, and Geolast™ trademarks and product
portfolios
- Customer and supplier contracts and agreements
- Two world-scale production facilities in Pensacola, Florida,
U.S. and Newport, Wales, U.K. with over 190 kt of total annual
production capacity
- Comprehensive TPV intellectual property portfolio with
associated technical and R&D assets
- Approximately 320 highly-skilled employees including
world-class manufacturing, technical, and commercial
organizations
About Celanese
Celanese Corporation is a global chemical leader in the
production of differentiated chemistry solutions and specialty
materials used in most major industries and consumer applications.
Our businesses use the full breadth of Celanese's global chemistry,
technology and commercial expertise to create value for our
customers, employees, shareholders 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 7,700 employees worldwide and had
2020 net sales of $5.7 billion. For more information about Celanese
Corporation and its product offerings, visit www.celanese.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211201005736/en/
Celanese Contacts: Investor Relations Brandon
Ayache +1 972 443 8509 brandon.ayache@celanese.com Media
Relations – Global Jamaison Schuler +1 972 443 4496
jamaison.schuler@celanese.com Media Relations Europe
(Germany) Petra Czugler +49 69 45009 1206
petra.czugler@celanese.com
Celanese (NYSE:CE)
Historical Stock Chart
From Apr 2024 to May 2024
Celanese (NYSE:CE)
Historical Stock Chart
From May 2023 to May 2024