- Celanese will acquire Nouryon's Elotex business, including global production facilities.
- The acquisition includes redispersible polymer powders and customer agreements.
- Elotex's facilities are in Europe and China, including Frankfurt, Geleen, Moosleerau, and Shanghai.
- The transaction is expected to close in Q2 2020, pending regulatory approvals.
Acquisition Overview
Celanese Corporation has signed an agreement to acquire Nouryon’s Elotex business, which includes redispersible polymer powders. The acquisition encompasses all of Nouryon’s global production facilities for these powders across Europe and Asia, as well as the entire Elotex product portfolio, customer agreements, technology, and commercial facilities.
Strategic Benefits
This acquisition will provide Celanese with direct access to a fast-growing market and a complementary customer base to its existing emulsions business. It will also offer additional flexibility and growth opportunities through derivatization, enhancing Celanese’s global acetyl chain business model. The integration of Elotex’s product portfolio and production facilities is expected to further meet global product demand.
Elotex Product Applications
Elotex is a leading manufacturer of redispersible polymer powders used in various applications, including self-leveling flooring, wall texturing, exterior thermal insulation composite systems (ETICS), cement tile adhesives, grouts, gypsum plaster, joint fillers, polymer binding systems, and cement-based renders.
Global Presence
Elotex has production facilities in Frankfurt, Germany; Geleen, Netherlands; Moosleerau, Switzerland; and Shanghai, China. The facilities in Frankfurt and Geleen are co-located and operationally integrated with Celanese’s emulsions assets. Elotex’s global headquarters, R&D, and Technical Services functions are located in Sempach, Switzerland.
Transaction Timeline
The transaction is expected to be completed in the second quarter of 2020, subject to customary closing conditions, regulatory approvals, and the completion of the works council process. Until the closing, Celanese and Elotex will continue to operate as independent businesses.
