Celanese buys Indian compounder Next Polymers
Celanese expects to operate Next Polymer’s thermoplastic compounding product portfolio and production capabilities within the company's engineered materials business.
Specialty materials supplier Celanese Corp. is acquiring India-based Next Polymers Ltd., which is said to be one of that country’s largest domestic engineering thermoplastics (ETP) compounders.
The terms of the deal have not been announced.
Headquartered in Mumbai, Next Polymers is part of engineering and specialty polymers distributor JP Polymers Pvt., which already distributes Celanese products in India.
“Next Polymers complements our rapidly growing India business to further establish Celanese as a leader in the Indian ETP market by broadening our ability to serve nylon and other engineered materials customers in a high-growth region,” Scott Sutton, Celanese’s chief operating officer, said in a statement. “Additionally, this acquisition further supports the company’s global manufacturing base by adding a world-class domestic compounding facility with 10 production lines to support our local customers, leverage a potential export base, and expand our domestic ETP capabilities in a market that is growing at a 15 per cent annual growth rate.”
Irving, Texas-based Celanese expects to operate Next Polymer’s thermoplastic compounding product portfolio and production capabilities within the company’s engineered materials business.
The transaction is expected to close in the first quarter of 2019.