Brings a global leader and flagship brand in thermoplastic vulcanizates (TPV) to Engineered Materials’ leading customer solution set
DALLAS (December 1, 2021) – 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
