Local time January 2, 2019, global chemical and specialty materials company Celanese Corporation announced that it has completed the acquisition of Next Polymers Ltd., one of India's largest engineering thermoplastics (ETP) producers. Next Polymers specializes in the production of a variety of custom ETP blends and is headquartered in Mumbai, India. Its blends production facility in Silwassa, Dadra-Nagar Haveli, has an annual output of approximately 20,000 tons .
Celanese Chief Operating Officer Scott Sutton said: "This time will allow our business in India to grow rapidly, by improving the quality of nylon and other engineering materials and the level of service to customers, while providing customers with a wider range of polymer products. Ranis will be a leader in the Indian engineering thermoplastics market. As a global chemical and materials company focused on numerous management initiatives, this acquisition provides career opportunities for our new employees and is also the business of our company. portion."
The acquisition enables Celanese to add a new production facility in India, further expanding its global manufacturing footprint. Celanese owns world-class blending material production equipment and 10 production lines in India, which will support the fast-growing local customer demand in the Indian market and realize its potential as an export base. The acquisition also strengthens Celanese's ability to synthesize polymer materials for post-industrial materials, an area that is receiving increasing attention, and also demonstrates the company's commitment to reducing waste and fulfilling environmental responsibility.
Celanese will integrate Next Polymer's engineering thermoplastics portfolio into its engineering materials business. Products will include: nylon 6 and nylon 66; polypropylene; acrylonitrile butadiene styrene; polycarbonate and polymethyl Methyl acrylate (PMMA).
Financial details of the transaction have not been disclosed. Celanese announced its agreement to acquire Next Polymers in October 2018.