The Advanced Engineered Materials unit of Celanese Corp. has acquired a pair of specialty resin businesses from DuPont Co. for an undisclosed price.
The Florence, Ky.-based AEM unit, which includes Ticona specialty resins, has added DuPont's Zenite-brand liquid crystal polymer and Thermx-brand PCT. Together those materials did sales of $40 million last year.
In a May 6 news release, Ticona officials said the deal will strengthen its industry position and broaden its LCP product portfolio to enable Ticona to offer consumers additional environmentally friendly electrical and electronics product solutions.
The electrical and electronics segments are high-growth global markets, said Celanese Chairman and CEO David Weidman.
Wilmington, Del.-based DuPont concluded that this opportunity to divest Zenite and Thermx is in the best long-term interests of our portfolio and customers, said Diane Gulyas, president of DuPont performance polymers.
The transaction includes intellectual, but no physical, assests, said Travis Jacobsen, a spokesman with Dallas-based Celanese. No employees will be transferred.
Ticona will transfer Zenite LCP production Shelby, N.C., where it already makes Vectra-brand LCP. Vectra and Zenite had competed in some markets, officials said.
Thermx PCT will be produced for Ticona by a third-party firm that officials declined to identify. Both Thermx and Zenite then will be compounded at several Ticona sites, including Florence.
Zenite LCP is used in components for electrical and electronic products, lighting, telecommunications, automotive ignition and fuel systems, aerospace and similar markets. Thermx PCT is used in demanding, high-temperature uses in the auto industry and electrical and electronic products.
Ticona officials added that Zenite LCP will help it in the growing area of green electronics, where global manufacturers of products like laptop computers and cell phones are discontinuing the use of halogenated compounds in favor of more environmentally friendly components.
The purchase also lets Ticona offer a broader variety of product solutions for automotive suppliers, such as sensor-equipped cars or future-oriented LED lighting applications, officials said.
Ticona posted sales of just over $800 million in 2009, representing about 16 percent of Celanese's overall sales total.
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