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