Celanese Corporation, a global chemical and specialty materials company, announced it has completed the acquisition of the Santoprene TPV elastomers business of ExxonMobil 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.
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
"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,” said Ryerkerk.
