Celanese Completes Acquisition of Elotex®
Wed, 01 Apr 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:
(*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.
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.
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Media Relations Europe (Germany)
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Source: Celanese Corporation