NEWS
Celanese agrees $11bn deal to acquire most of DuPont ETPs business
Celanese is to buy the majority of DuPont’s Mobility & Materials (M&M) business in an $11bn deal. The move, subject to regulatory approval, includes much of DuPont’s Engineering Polymers business — but not its Delrin POM business — and some of its Performance Resins and Advanced Solutions business lines. Celanese CEO Lori
Ryerkerk said the move will make Celanese “the pre-eminent global special- ity materials company, significantly enhancing the breadth and competitive- ness of the EM [Engineering Materials] product portfolio”. The acquisition will give the company a portfolio of speciality materials extend- ing to PA6, PA66, speciality PAs such as HPPA, PET, PBT, and thermoplastic elasto- mers and including the Zytel, Rynite, Crastin and Hytrel brands. Together they are expected to deliver an EBITDA of about $900m in 2022. Celanese also gains a global production network of 29 facilities employing about 5,000, an IP portfolio of some 850 patents, plus customer and supplier contracts. Celanese Senior VP of
Engineered Materials, Tom Kelly said the company will “combine the product and technology leadership of M&M with the commercial
6
Above: Around half of the acquired material portfolio goes into automotive and growing EV applications
excellence and customer engagement model of EM to accelerate our growth in high-value applications”. The acquired materials go mainly into automotive, E&E, consumer goods, and indus- trial applications. Automo- tive accounts for about half and electric vehicles are a growing proportion of that. “The geographic fit with
EM is exceptional as M&M expands our presence in Asia and results in a combined business with a broader scale in high- growth regions. Within Asia, M&M has a significant presence outside of China with strong customer relationships in Japan and Korea that will support growth, particularly in auto,” he said. Kelly said the deal
roughly doubles the size of the Celanese EM business, adds depth in key end
COMPOUNDING WORLD | March 2022
markets and makes it more diversified as well as more back-integrated in some materials, notably PA66 and PBT. Celanese anticipates run-rate synergies of approximately $450m within the first four years after closing. Already a major player in
POM, Celanese is not buying the Delrin POM business, which had net sales of about $550m in 2021. Other M&M busi- nesses not included in the Celanese deal are Auto Adhesives, Multibase additives, and Tedlar PVF products, which together reported $950m in sales in 2021.
DuPont has also agreed
to retain and indemnify Celanese for certain liabilities, including those relating to PFAS. �
www.celanese.com �
www.dupont.com
IN BRIEF...
Covestro inaugurated two new production lines for PC compounds at its Greater Noida Plant near Delhi in Indai at the end of last year. The expansion more than doubles PC compounding capacity at the plant.
www.covestro.com
Honeywell is to supply TotalEnergies with polymer feedstock recycled using its UpCycle chemical recycling process technology at a joint venture plant it intends to build with Sacyr in Andalu- cía, Spain. Due to open in 2023, the UpCycle plant will have capacity to reprocess around 30,000 tonnes/yr of plastic waste.
www.totalenergies.com
www.honeywell.com
Working with GSM Sella and Aurora Kunststoffe, Gabriel-Chemie has developed a masterbatch that is being used to produce 30,000 new stadium seats from post industrial recycled PA66. The masterbatch is said to guarantee mechanical, flame retardant and UV resistant properties.
www.gabriel-chemie.com
Lanxess is now offering verified environmental product declarations (EPDs) for selected groups in its Bayferrox synthetic iron oxide pigment range. EPDs are based on life-cycle assessments, in this case carried out by the Institut für Bauen und Umwelt.
www.bayferrox.com
www.compoundingworld.com
IMAGE: DUPONT
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