Celanese Acquires POM Technology and Sales Agreements from Grupa Azoty
Celanese Corporation (NYSE: CE) announced the acquisition of specific polyacetal (POM) production technology from Grupa Azoty S.A., which is discontinuing its POM manufacturing. The deal enables Celanese to serve existing Tarnoform® customers while leveraging its own assets. Although the transaction includes intellectual property and contracts, it does not encompass employees or manufacturing facilities from Azoty. Senior Vice President Tom Kelly highlighted the acquisition as a strategic move to enhance the growth of Celanese's Engineered Materials business. The closing is anticipated for early July 2021.
- Acquisition of POM technology expands Celanese's customer base.
- Increased volume opportunities leveraging existing assets.
- Focus on strategic growth within the Engineered Materials sector.
- The acquisition does not include any tangible assets or manufacturing facilities, limiting operational integration.
Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced that it has acquired certain technology relating to the production of polyacetal (POM) products from Grupa Azoty S.A. of Tarnow, Poland, after its decision to discontinue its POM manufacturing.
Celanese will take over all existing Tarnoform® contracts in order to serve Azoty’s customers. However, with the exception of certain equipment transferred in connection with the intellectual property transfer, this transaction does not include any of Azoty’s employees, tangible assets, manufacturing facilities or sales offices.
“This transaction will enable Celanese to serve Azoty’s customers with Celanese assets, thereby allowing for an incremental volume opportunity for Celanese as well as access to a POM customer base and a proven POM technology in Tarnoform®,” said Tom Kelly, Senior Vice President, Engineered Materials, Celanese. “Our Engineered Materials business is a critical growth engine for Celanese, and we continue to take the strategic steps needed, such as this customer and product acquisition, to fuel the ongoing success of the business,” concluded Kelly.
The transaction is expected to close in early July 2021.
About Grupa Azoty
The Grupa Azoty Group is the undisputed leader of the fertilizer market domestically and a key player in the fertilizer and chemical industry in Europe. It is the second largest EU-based manufacturer of nitrogen and compound fertilizers, also enjoying a strong position on the markets of melamine, caprolactam, polyamide, oxo alcohols, plasticizers and titanium white.
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
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FAQ
What technology did Celanese acquire from Grupa Azoty?
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