Industry News

Celanese Completes Acquisition of ExxonMobil’s TPV Elastomers Business

Published on 2021-12-10. Edited By : SpecialChem

acquisition-gamut Celanese Corporation has completed the acquisition of the Santoprene™ TPV elastomers business of ExxonMobil Corporation.

Details of the Transaction

Celanese announced the acquisition of the Santoprene™ business 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.

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.”

Source: Celanese

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