Celanese acquires ExxonMobil Santoprene TPV business for US$1.15 billion

On June 30, Celanese announced that it had signed a definitive agreement to acquire ExxonMobil’s Santoprene TPV elastomer business at a price of US$1.15 billion. The transaction is expected to be completed in the fourth quarter of 2021.

Celanese’s acquisition includes: trademarks and product portfolio; all customer and supplier contracts and agreements; two world-class production facilities located in Pensacola, Florida, USA and Newport, Wales, UK, with an annual production capacity of more than 190 10,000 tons; related intellectual property portfolio and related technology and R&D assets.

ExxonMobil’s Santoprene business is a TPV manufacturer that serves a variety of end-uses, including automobiles, construction, home appliances, medical and industrial. TPV is a chemically cross-linked high-performance material that utilizes a unique combination of engineering thermoplastic and elastomer properties.