Celanese Corporation, an overall chemical and specialty materials association, today announced the signing of a legitimate agreement to get the Santoprene™ TPV elastomers business of Exxon Mobil Corporation. Celanese will acquire the business famous Santoprene™ brand as an element of a broad TPV product portfolio, close by authorized advancement, production and commercial assets, and a first class affiliation.
“With the getting of the Santoprene™ business, we are further developing the unmatched portfolio of engineered game plans we bring to our customers,” said Lori Ryerkerk, director and CEO. “This transaction tends to an excellent yield opportunity to drive future shareholder value by passing on our excess money from the monetization of our inactive ownership in Polyplastics and continued with strong cash generation in our associations. We are restless to welcome the Santoprene™ gathering to Celanese and expect their responsibilities to our continued with improvement in Engineered Materials.”
“This transaction impressively strengthens our present elastomers portfolio, allowing us to bring a more broad extent of functionalized plans into assigned improvement districts including future mobility, medical, and sustainability,” said Tom Kelly, senior VP Engineered Materials. “The remaining of the Santoprene™ brand in TPV is dependable with Engineered Materials’ flagship brands recollecting Hostaform® for POM and GUR® in UHMW-PE. With this product as a part of the Engineered Materials portfolio and undertaking pipeline model, we are sure that our joint commercial and specific teams across the globe will make critical shareholder value.”