Celanese Corporation, a global chemical and specialty materials company, and Nouryon today announced they have signed an agreement for Celanese to acquire Nouryon’s redispersible polymer powders business offered under the Elotex brand (Elotex business).
As part of the acquisition, Celanese will acquire all of Nouryon’s global production facilities for redispersible polymer powders across Europe and Asia, all products under the Elotex portfolio, as well as all customer agreements, technology and commercial facilities globally.
“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,” said Todd Elliott, senior vice president, Acetyls.
Elotex is one of the world’s leading manufacturers of redispersible polymer powders for exterior thermal insulation composite systems, self-leveling flooring and wall texturing, cement tile adhesives, ypsum plaster and joint fillers, polymer binding systems, and cement and time-based renders.
Celanese expects to integrate Elotex’s redispersible polymer powder product portfolio and production facilities into its global acetyl chain to further meet global product demand. Elotex has production facilities in Europe and China that include Frankfurt, Germany; Geleen, Netherlands; Moosleerau, Switzerland; and Shanghai, China. Elotex has its global headquarters, R&D and Technical Services functions located in Sempach, Switzerland.
The parties expect to complete the transaction in the second quarter of 2020, subject to customary closing conditions, regulatory approvals and subject to completion of the works council process.