DALLAS, FRANKFURT & SHANGHAI--(BUSINESS WIRE)--Celanese Corporation (NYSE: CE), a global technology and specialty materials company, today announced it has completed the acquisition of the nylon compounding division of Nilit, a major independent producer of high performance nylon polymers and compounds. Financial details of the transaction are not being disclosed at this time.
This acquisition further extends Celanese’s leadership position in the engineered materials business to a global nylon solutions provider. The acquisition includes Nilit Plastics’ nylon compounding product portfolio, customer agreements and manufacturing, technology and commercial facilities in Germany and China. In addition, the acquisition is complementary to the company’s capabilities and track record of innovation, quality and service.
As previously announced, Nilit will retain ownership of its nylon fibers and nylon polymerization businesses worldwide, including facilities in Israel, the United States, China and Brazil.
Nylon compounds continue to be a material of choice in automotive, E&E, consumer and industrial applications. This acquisition delivers on Celanese’s intention to complement and grow its broad portfolio by becoming a leading, global nylon compound supplier.
“Nylon is increasing in applications and end uses in growth industries where Celanese is already focusing significant product, solution and customer development activities,” said Scott Richardson, senior vice president of the Celanese engineered materials business. “The addition of the Nilit nylon compounding product portfolio will extend Celanese’s engineered materials solutions offering, and when combined with the company’s world-class operating model, we are well positioned to be the first choice materials solutions provider for our customers.”
Celanese will integrate Nilit Plastics’ nylon compounding product portfolio and production capabilities into its engineered materials business to include the following registered brands:
- FRIANYL® flame retardant grades for electrical and electronics industries, meeting most stringent industry requirements, and in almost all colors.
- NILAMID® technical grades for industrial and automotive applications.
- NILAMID® specialty portfolio for extended performance requirements in terms of thermal, electrical, mechanical and tribological properties in particular.
- ECOMID® grades containing high-quality polyamide fibers and textile recycled for a combination of quality, high lot-to-lot consistency and competitiveness.
The most recent additions to the NILIT Plastics range, developed to cater to new market trends, include “XS” and “XT” types. NILAMID® XS grades are compounds based on semi-aromatic polyamides, and FRIANYL® XT and NILAMID® XT, are compounds based on polyphthalamide (PPA) provide superior performance, particularly in terms of high heat resistance and mechanical strength.
Richardson concluded: “The combined portfolios of Celanese, SO.F.TER. Group, and Nilit Plastics significantly increases the solution options available to our customers across thermoplastics and elastomers. Our combined polyamide portfolio will represent a broad range of PA6- and PA6,6-based solutions delivering a range of functional capabilities and modifications for customer needs globally.”
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our two complementary business cores, Acetyl Chain and Materials Solutions, use the full breadth of Celanese’s global chemistry, technology and business expertise to create value for our customers and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,300 employees worldwide and had 2016 net sales of $5.4 billion. For more information about Celanese and our product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.
All registered trademarks are owned by Celanese International Corporation or its affiliates.
This release may contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures and other information that is not historical information. When used in this release, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions, including the announced acquisition. There can be no assurance that the company or its customers will realize these benefits or that these expectations will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release, including with respect to the acquisition. Numerous factors, many of which are beyond the company’s control, could cause actual results to differ materially from those expressed as forward-looking statements. Other risk factors include those that are discussed in the company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.