Celanese to acquire India-based Next Polymers Ltd.

|About: Celanese Corporation (CE)|By:, SA News Editor

Celanese Corporation (NYSE:CE) to acquire India-based Next Polymers Ltd., one of the country’s largest domestic engineering thermoplastics (ETP) compounders for an undisclosed term.

“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,” said Scott Sutton, Chief Operating Officer. “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 percent annual growth rate.”

Celanese expects to operate Next Polymer’s thermoplastic compounding product portfolio and production capabilities within the company's engineered materials business.

The company expects to complete the transaction early in 1Q19.

CE +0.33% premarket.

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