Celanese Completes Acquisition of Mobility & Materials Business

Rhea-AI Summary

Celanese Corporation (NYSE: CE) has successfully acquired the majority of the Mobility & Materials (M&M) business from DuPont. This acquisition enables Celanese to enhance its position as a global leader in specialty materials, incorporating renowned brands and extensive product portfolios into its operations. The transaction, initially announced in February 2022, includes a range of engineered thermoplastics and elastomers along with global production capabilities. Future commentary on the acquisition will be provided during the upcoming third-quarter earnings call.

Positive

• Acquisition establishes Celanese as a global leader in specialty materials.
• Enhances portfolio with industry-renowned brands and engineered thermoplastics.
• Strengthens Celanese's growth trajectory in Engineered Materials.

Negative

• Potential risks associated with realizing anticipated benefits from the acquisition.

Establishes Celanese as the Preeminent Global Specialty Materials Company

DALLAS--(BUSINESS WIRE)-- Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced it has completed the acquisition of the majority of the Mobility & Materials (M&M) business of DuPont.

“We are excited to welcome the M&M team to Celanese and I want to thank the teams that worked diligently to successfully close this acquisition today,” said Lori Ryerkerk, chairman and chief executive officer. “With the addition of M&M’s industry-renowned brands and product portfolios, we have established Celanese as the preeminent global specialty materials company. As one team, we will be better positioned to elevate the growth trajectory of Engineered Materials and to create value for our customers and shareholders. We look forward to providing additional commentary on the acquisition as part of our upcoming third quarter 2022 earnings release and conference call later this week.”

The Company announced the acquisition of M&M in February 2022. As part of the transaction, Celanese has acquired a broad portfolio of engineered thermoplastics and elastomers, industry-renowned brands and intellectual property, global production assets, and a world-class organization.

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 8,500 employees worldwide and had 2021 net sales of $8.5 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com.

Forward-Looking Statements
This release may contain “forward-looking statements,” which include information concerning the Company’s plans, objectives, goals, strategies, future revenues, cash flow, synergies, 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,” “will” 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 results expressed or implied by the forward-looking statements contained in this release. These include the Company’s ability to realize the anticipated benefits of the acquisition. Numerous other 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221031005809/en/

Investor Relations

Brandon Ayache

Phone: +1 972 443 8509

Brandon.Ayache@celanese.com

Media Relations - Global

Brian Bianco

Phone: +1 972 443 4400

media@celanese.com

Source: Celanese Corporation

FAQ

What is the significance of Celanese's acquisition of DuPont's M&M business?

The acquisition positions Celanese as a leader in specialty materials, expanding its product offerings and market reach.

When was the acquisition of the M&M business by Celanese announced?

The acquisition was announced in February 2022.

What types of products did Celanese acquire from DuPont?

Celanese acquired engineered thermoplastics, elastomers, brands, and production capabilities.

How will this acquisition impact Celanese's shareholders?

The acquisition is expected to create value for shareholders by enhancing growth in engineered materials.

When will Celanese provide more details on the acquisition?

Additional commentary will be shared during the third-quarter 2022 earnings release and conference call.