Brings a global leader and flagship brand in thermoplastic vulcanizates (TPV) to Engineered Materials’ leading customer solution set
DALLAS--(BUSINESS WIRE)--
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.
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