Celanese Completes Acquisition of Elotex®

Wed, April 1 2020

Redispersible polymer powders product line to help drive growth of VAE emulsions business as part of Celanese acetyls derivatization strategy

DALLAS & AMSTERDAM & SHANGHAI--(BUSINESS WIRE)-- Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced it has completed the acquisition of Nouryon’s redispersible polymer powders business offered under the Elotex® brand.

With the completion of the acquisition – having cleared all necessary closing conditions, regulatory and works council requirements – Celanese takes ownership of Nouryon’s global production facilities for redispersible polymer powders across Europe and Asia, all products under the Elotex® portfolio, and all customer agreements, technology and commercial facilities globally.

Celanese will integrate the Elotex® product portfolio and production facilities into its global vinyl acetate ethylene (VAE) emulsions business to further meet global product demand. Elotex® has production facilities in these locations:

• Frankfurt, Germany*
• Geleen, Netherlands*
• Moosleerau, Switzerland
• Shanghai, China

(*Elotex® manufacturing facilities in Frankfurt and Geleen are co-located and operationally integrated with Celanese emulsions assets at these locations. Elotex® R&D and Technical Services functions are located in Sempach, Switzerland.)

Elotex® is one of the world’s leading manufacturers of redispersible polymer powders for growing applications including:

• self-leveling flooring and wall texturing smoothing/painting
• exterior thermal insulation composite systems (ETICS) which provide exterior walls with an insulated and waterproof surface, applied as a topcoat by trowel or spraying
• cement tile adhesives and grouts for floor and wall tiles, mosaic and flat natural stone on dimensionally stable sub floors
• gypsum plaster and joint fillers, polymer binding systems, and cement and time-based renders

Celanese announced its intent to acquire Elotex® on January 30. Financial details of the acquisition will be reported as part of the company’s regular quarterly financial disclosure.

About Celanese

Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2019 net sales of $6.3 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.

Forward-Looking Statements: This release may contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures and other information that is not historical information. When used in this release, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company or its customers will realize these benefits or that these expectations will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release. Numerous factors, many of which are beyond the company’s control, could cause actual results to differ materially from those expressed as forward-looking statements. Other risk factors include those that are discussed in the company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.

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Investor Relations
Abe Paul
+1 972 443 4432
abraham.paul@celanese.com

Media Relations – Global
W. Travis Jacobsen
+1 972 443 3750
william.jacobsen@celanese.com

Media Relations Europe (Germany)
Jens Kurth
+49(0)69 45009 1574
j.kurth@celanese.com

Source: Celanese Corporation