US-based speciality materials company, Celanese, has announced the completion of the acquisition of Mumbai-based engineering thermoplastics (ETP) compounder, Next Polymers Ltd. Financial details of the transaction were not disclosed. Celanese had announced the deal in October 2018.
Next Polymers specialises in custom compounding of various ETP materials and operates an approximate 20 kilo tons per annum facility in Silvassa. The company has extensive experience in compounding polymers with post-industrial content, an increasingly important capability for Celanese that reinforces its commitment to waste minimisation and sustainability.
“This acquisition complements our rapidly growing India business and establishes Celanese as a leader in the Indian ETP market by broadening our ability to serve nylon and other engineered materials customers with high product quality and service levels, while also offering our customers a wider range of polymer pro-ducts,” Mr. Scott Sutton, Celanese’ Chief Operating Officer was quoted as saying in a press statement. “By adding a new production unit in India, this acquisition further expands Celanese’s global manufacturing footprint with a world-class domestic compounding facility and 10 production lines to support local customers in a fast-growing market and leverage a potential export base,” he added.
Celanese will manage Next Polymer’s ETP product portfolio within its engineered materials business.
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