Celanese to acquire ExxonMobil’s Santoprene TPV elastomers business

Global chemical and specialty materials company Celanese Corp. is acquiring the Santoprene TVP elastomers business of Exxon Mobil Corp. for US$1.15 billion.

Santoprene is a vulcanized polymer alloy that is used in washing machines, dryers, dishwashers, refrigerators, small appliances, and floorcare.

The sale includes two manufacturing sites in Pensacola, Fla., Newport, Wales that employ approximately 350 people, along with associated product, laboratory equipment, administration buildings, control systems and documentation and IP, Exxon said in a statement.

The deal is expected to close in the fourth quarter of 2021.

“Reaching this agreement with Celanese is consistent with our strategy and allows us to focus on serving the growing market for primary olefin derivatives, where we can leverage our competitive advantages of industry leading scale, integration and proprietary technology,” said Jack Williams, Exxon’s senior vice president.

Celanese is headquartered in Irving, Tex.