MOSCOW (MRC) -- Celanese Corporation, a global chemical and specialty materials company, has announced it has completed the acquisition of Next Polymers Ltd., one of India's largest engineering thermoplastics (ETP) compounders, as per the company's press release.
"This acquisition complements our rapidly growing India business and establishes Celanese as a leader in the Indian ETP market by broadening our ability to serve nylon and other engineered materials customers with high product quality and service levels, while also offering our customers a wider range of polymer products," said Scott Sutton, Celanese Chief Operating Officer. "This step also offers our new employees career growth opportunities as part of a global chemical and materials company focused on numerous stewardship initiatives."
By adding a new production unit in India, this acquisition further expands Celanese's global manufacturing footprint with a world-class domestic compounding facility and 10 production lines to support local customers in a fast-growing market and leverage a potential export base. The acquisition also grows Celanese's capability in compounding polymers with post-industrial content, an increasingly important focus area that reinforces the company's commitment to waste reduction and environmental accountability.
Celanese will manage Next Polymer's ETP product portfolio within its engineered materials business to include the following products: nylon 6 and nylon 66, polypropylene (PP), acrylonitrile-butadiene-styrene (ABS), polycarbonate (PC), polymethyl methacrylate (PMMA).
Next Polymers specializes in custom compounding of various ETP materials and is located in Mumbai, India, with an approximate 20 kilo tons per annum compounding production facility in Silvassa, located in the union territory of Dadra & Nagar Haveli.
Financial details of the transaction are not being disclosed at this time. Celanese announced its agreement to acquire Next Polymers in October 2018.
As MRC wrote before, in late December 2018, Celanese Corporation announced price increases for its GUR and GHR grades (UHMW-PE) to be shipped starting from January to Europe, the Americas and Asia. The price increases below are effective for orders shipped on or after 1 January, 2019, or as contracts otherwise allow, as follows:
- in Europe - by EUR150/tonne;
- in Asia - by USD150/tonne;
- in North and South America - by 10%.
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. Based in Dallas, Celanese employs approximately 7,600 employees worldwide and had 2017 net sales of USD6.1 billion.