Celanese to buy majority of DuPont’s Mobility & Materials business

Chemical and specialty material supplier Celanese Corp. is acquiring a majority of DuPont Co.’s Mobility & Materials (M&M) segment, including the engineering polymers business line and select product lines within the performance resins and advanced solutions business lines for US$11 billion in cash.

Combined, these businesses represented approximately US$3.5 billion of net sales and $0.8 billion in operating EBITDA in 2021.

The transaction is expected to close around the end of 2022.

The engineering thermoplastics and elastomers in DuPont’s M&M business are designed for automotive, electrical and electronics, consumer goods, and industrial applications. The acquired M&M product portfolio includes nylons (PA 66, PA 6), specialty nylons (HPPA, LCPA, filaments), polyesters (PET and PBT), and elastomers (TPC and EAE).

The deal also includes 29 DuPont global manufacturing facilities; customer and supplier contracts and agreements; an intellectual property portfolio that includes approximately 850 patents with associated technical and R&D assets; and approximately 5,000 workers in manufacturing, technical and commercial roles.

“The acquisition of the M&M business is an important strategic step forward and establishes Celanese as the preeminent global specialty materials company,” Celanese chairman and CEO Lori Ryerkerk said in a Feb. 18 statement.

Dallas-based Celanese is already a major supplier of PPS, UHMWPE, and LCP, and it also has existing positions in polyamide, PPA, PCT, TPV, and polypropylene compounds.

In a separate Feb. 18 news release, DuPont officials said the move reflects the company’s transformation into a primarily electronic materials player, with the proceeds to fund the previously announced acquisition of Rogers Corp. and further M&A opportunities in addition to continuing share repurchases.

The news release also said that DuPont is separately advancing the process to divest its Delrin acetal homopolymer business.