Celanese and Nouryon jointly announced that they have signed an agreement: Celanese will acquire the Nouryon Elotex® brand redispersible polymer powder business. Under the agreement, Celanese will fully acquire Nouryon's redispersible polymer powder production facilities in Europe and Asia, Elotex series products, as well as global customer contract agreements, technology and commercial facilities.
"Acquisition of Elotex, Celanese will directly obtain a series of relatively fast-growing applications and a customer base complementary to our emulsion business. Through derivation, Celanese business will have more flexibility and more options for downstream growth This is crucial to enhancing the value of our unique global acetyl chain business, "said Todd Elliott, senior vice president of acetyl global," Through this acquisition, Celanese will strengthen its global leadership position in the VAE emulsion business Support our customers in the field of construction and building materials; we have invested a lot of time and manpower in these fields, focusing on core products, solutions and customer development. "
"I want to thank Elotex employees and our loyal customers for their contribution to the company's development," said Charlie Shaver, Chairman and CEO of Nouryon. "Elotex has huge growth potential and I firmly believe that Celanese will lead it to continue Flourish, and continue to meet and exceed customer expectations by providing industry leading products and solutions.
Elotex is one of the world's leading manufacturers of redispersible polymer powders, and its products are mainly used in the following areas:
Self-leveling floor and wall texture smoothing / paint
External wall thermal insulation composite material system (ETICS), which can provide thermal insulation and waterproof surface for external wall, use trowel or spray as topcoat
Used for cement tile bonding and grouting of floor and wall tiles, mosaics and flat natural stones on rough floor with stable dimensions
Gypsum and caulk materials, polymer binder based systems, cement and repair
Celanese plans to integrate Elotex's redispersible polymer powder products and production facilities into the global acetyl product chain business to further meet global product demand. Elotex has production plants in Europe and China, including Frankfurt, Germany, Geleen, the Netherlands, Moosleerau, Switzerland, and Shanghai, China. Elotex's plants in Frankfurt and Geleen are integrated with Celanese emulsion production's existing equipment. Both parties are already integrated in upstream and downstream operations. Elotex's global headquarters, R & D and technical services are located in Sempach, Switzerland.
Both parties expect to complete the transaction in the second quarter of 2020, subject to customary closing conditions, regulatory approval, and labor-management committee procedures. Until the transaction is completed, Celanese and Elotex will continue to operate independently.