Celanese completes acquisition of most of DuPont M&M businesses

November 1 - Celanese confirmed the completion today of the acquisition of the majority of DuPont's Transportation and Materials Business Unit (M&M). Under the February 17, 2022 Acquisition agreement between DuPont and Celanese, Celanese will acquire DuPont's Transportation and Materials Business Unit for a transaction price of $11 billion in cash.

Lori Ryerkerk, Chairman of the Board and Chief Executive Officer of Celanese, said, "We are thrilled to welcome the M&M team to Celanese, and I would like to thank the team that worked so hard to complete this acquisition. The addition of M&M'S PORTFOLIO of well-known brands and products establishes Celanese as the pre-eminent global specialty materials company. As a team, we will be better positioned to enhance Engineering Materials' growth trajectory and create value for our customers and shareholders. We look forward to providing more information on the acquisition at Celanese's upcoming third quarter 2022 results report and conference call later this week."

Celanese announced the acquisition of DuPont's Transportation and Materials Business Unit (M&M) in February 2022. The M&M business is a leading global producer of engineered thermoplastics and elastomers serving a variety of end applications, including automotive, electrical and electronics, consumer products and industrial applications. The M&M portfolio from this acquisition includes a variety of leading global specialty materials including nylon (PA 66, PA 6), specialty nylon (HPPA, LCPA, monofilament), polyester (PET and PBT) and elastomer (TPC and EAE).

The M&M portfolio is highly functional, adaptable to the needs of multiple applications, and supported by a leading intellectual property portfolio and technology organization.

Under the terms of the definitive agreement, Celanese will acquire most of M&M's businesses on a cashless, debt-free basis for a total price of $11 billion. Celanese's acquisitions as part of the transaction include:

A global production network of 29 plants, including modification and polymerization production

Customer and supplier contracts and agreements

An industry-leading intellectual property portfolio comprising approximately 850 patents and related technology and R&D assets

About 5,000 highly skilled employees from the manufacturing, technical and commercial sectors

Celanese expects to achieve operational synergies worth approximately $450 million in the first four years following the closing of the transaction through highly complementary business alignments.