The acquisition "is an important strategic step forward and establishes Celanese as the preeminent global specialty materials company," Celanese Chairman and CEO Lori Ryerkerk said in a Feb. 18 news release.
"For nearly a decade, we have implemented, enhanced, and increasingly extended the engineered materials [EM] commercial model to generate shareholder value," she added. The DuPont business "will be a high-quality addition to EM and will unlock significant opportunities to generate further customer and shareholder value."
Tom Kelly, Celanese EM senior vice president, added that the DuPont business "is a uniquely complementary specialty materials asset to EM, spanning product, geography and end-market" and that the acquisition "greatly enhances the EM product portfolio by adding new polymers, industry-renowned brands, leading product technology, and backward integration in critical polymers."
The deal includes 29 global manufacturing sites and an intellectual property portfolio of about 850 patents. The business being acquired employs around 5,000 in manufacturing, technical and commercial roles.
Brands and materials involved in the sale include Zytel nylon, Crastin polybutylene terephthalate (PBT), Rynite high-performance nylon and filaments and Vamac and Hytrel elastomers.
Industry consultant Robert Eller said in an email that the Celanese-Dupont deal “presents synergies resulting from the ability to bundle or offer a package that includes engineering thermoplastics and thermoplastic elastomers.”
“TPEs have been trying for years to benefit from ETP sector developments and market presence,” said Eller, president of Robert Eller Associates in Akron, Ohio. “There will be product development, sales/marketing, path-to-market, global scale, economies of scale and R&D synergies.
“The ability to combine rigid and flexible combinations, a trend in the marketplace, is an immediate/obvious benefit. The combination offers immediate path-to-market advantages for Celanese, especially in the very high growth EV automotive sector,” he said.
For example, Eller said, product designers working on projects that need both rigid and flexible components now would be able to develop “an integrated offering with associated benefits.”