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Celanese Buys Polymer Powders Business from Nouryon
January 30, 2020
4 Min Read
Chemical and specialty materials firm Celanese entered into an agreement to purchase Nouryon’s Elotex brand of dispersible polymer powders, including all associated production facilities in Europe and Asia, the company announced in a release Thursday. The deal also includes all customer agreements, technology, and commercial facilities.
“By acquiring Elotex, Celanese will have direct access to relatively fast-growing applications and a customer base that is complementary to our emulsions business. The acquisition offers additional flexibility and downstream growth optionality through derivatization, both of which will unlock value under our unique global acetyl chain business model,” Todd Elliott, senior vice president of Acetyls at Celanese said in a statement. “With this acquisition, Celanese will extend its global leadership position in the VAE emulsions space and continue to support our customers in construction and building materials, where Celanese is already focusing significant product, solution, and customer development efforts.”
Elotex products are used in a variety of applications, including self-leveling flooring, wall texturing smoothing/painting, exterior thermal insulation composite systems (ETICS), cement tile adhesives, and gypsum plaster and joint fillers.
When Elotex becomes a part of Celanese, the business will be integrated into the firm’s global acetyl chain. The brand is currently produced at facilities in Germany, the Netherlands, Switzerland, and China and its global headquarters, R&D, and technical services functions are based in Sempach, Switzerland.
“I want to thank our Elotex employees and our loyal customer base for their contribution in building this business,” Charlie Shaver, chairman and chief executive officer of Nouryon, said in the release. “It is very well positioned for growth and I strongly believe that it will prosper under the new ownership and continue to meet and exceed customer expectations in this market by providing industry leading products and solutions.”
The transaction is expected to close in the second quarter of this year pending the completion of regulatory approvals and other closing conditions.
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