CELANESE COMPLETES ACQUISITION OF SO.F.TER. GROUP
Extends global engineered materials leadership position; expands ETP and TPE portfolio through acquisition of leading producer.
Celanese Corporation (NYSE: CE), a global technology and specialty materials company, today announced it has completed the transaction to acquire the Forli, Italy based SO.F.TER. Group, one of the world’s largest independent thermoplastic compounders.
Celanese has acquired SO.F.TER. Group’s comprehensive product portfolio of engineering thermoplastics (ETPs), thermoplastic elastomers (TPEs), as well as all customer agreements and all manufacturing, technology and commercial facilities.
The acquisition nearly doubles the number of Celanese global engineered materials product platforms and further extends Celanese’s world-class operational model, technical and industry solutions capabilities, and project pipeline.
“This extended portfolio – complementary to our global engineered materials business – will be integrated with Celanese’s materials capabilities and operational model to increase opportunities for engaging customers across highly diverse application areas where functionality and design freedom are critical to material selection,” said Scott Sutton, Celanese executive vice president and president of Materials Solutions. “Additionally, SO.F.TER. Group’s sophisticated and modern manufacturing facilities and product portfolio provide a vehicle for additional growth, investment and synergies.”
Financial details of the transaction were not disclosed. Celanese announced its agreement to acquire SO.F.TER. Group in October 2016.
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 7,000 employees worldwide and had 2015 net sales of $5.7 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.
Investor Relations: Surabhi Varshney, +1 972 443 3078, firstname.lastname@example.org
Media Relations – Global: W. Travis Jacobsen, +1 972 443 3750, email@example.com
Media Relations – Asia (Shanghai): Helen Zhang, +86 21 3861 9279, firstname.lastname@example.org
Media Relations – Europe (Germany): Jens Kurth, +49(0)69 45009 1574, email@example.com
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 stock purchase transaction. 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.