Celanese Completes Acquisition of Mobility & Materials Business
Acquisition Establishes Celanese as the Preeminent Global Specialty Materials Company
Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, announced on November 1, 2022, that it has completed the acquisition of the majority of the Mobility & Materials (M&M) business of DuPont.
“We are excited to welcome the M&M team to Celanese and I want to thank the teams that worked diligently to successfully close this acquisition today,” says Lori Ryerkerk, chairman and chief executive officer. “With the addition of M&M’s industry-renowned brands and product portfolios, we have established Celanese as the preeminent global specialty materials company. As one team, we will be better positioned to elevate the growth trajectory of Engineered Materials and to create value for our customers and shareholders. We look forward to providing additional commentary on the acquisition as part of our upcoming third quarter 2022 earnings release and conference call later this week.”
The company announced the acquisition of M&M in February 2022. As part of the transaction, Celanese has acquired a broad portfolio of engineered thermoplastics and elastomers, industry-renowned brands and intellectual property, global production assets, and a world-class organization.
Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. The Celanese portfolio of businesses use the full breadth of Celanese’s global chemistry, technology and commercial expertise to create value for customers, employees, shareholders and the corporation. Celanese partners with customers to solve their most critical business needs and strives to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 8,500 employees worldwide and had 2021 net sales of $8.5 billion.
For more information about Celanese Corporation and its product offerings, visit www.celanese.com.
