Chemicals and specialty materials maker Celanese Corp. announced Tuesday that its purchase of the bulk of DuPont’s Mobility & Materials (M&M) business has closed.
“With the addition of M&M’s industry-renowned brands and product portfolios, we have established Celanese as the preeminent global specialty materials company,” Lori Ryerkerk, chairman and chief executive officer of Celanese, said in a release. “As one team, we will be better positioned to elevate the growth trajectory of Engineered Materials and to create value for our customers and shareholders.”
The deal includes a portfolio of engineered thermoplastics and elastomers, brands and intellectual property, production assets across the world, and the organization.
Products in the M&M portfolio are used in electrical and electronics, consumer goods, and industrial applications. The acquisition increases Celanese’s position in nylons (PA 66, PA 6), specialty nylons (HPPA, LCPA, filaments), polyesters (PET and PBT), and elastomers (TPC and EAE).
The M&M business operates a production network of 27 facilities, including compounding and polymerization plants and customer and supplier contracts and agreements. Some 5,000 employees currently employed by DuPont are expected to join Celanese.