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Celanese Announces Completion of Acquisition of ExxonMobil Santoprene TPV

 Last Update: 2023-01-21
 Source: Internet
 Author: User

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Celanese announced that it has completed the acquisition of ExxonMobil's Santoprene TPV elastomer business
.

"We are delighted to welcome the Santoprene team to Celanese," said Lori Ryerkerk, Chairman and Chief Executive Officer
.
“They have established an industry-renowned brand and portfolio of products within the Santoprene business, which will immediately enhance our unparalleled portfolio of engineered solutions for our customers
.
We look forward to working with our commercial and technical teams to bring the broader engineering Materials solutions bring into targeted growth areas to create meaningful value for shareholders
.
"

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 deal, Celanese acquired the following assets:

· Santoprene, Dytron and Geolast trademarks and product portfolio

· Customer and supplier contracts and agreements

Two world - class production facilities in Pensacola, Florida, USA and Newport, Wales, UK, with a combined annual capacity of over 190 kilotons

Comprehensive TPV IP portfolio and related technology and R & D assets

· Approximately 320 highly skilled employees, including world-class manufacturing, technology and commercial organizations

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