Celanese completes $11 billion acquisition of DuPont mobility unit

DALLAS—Celanese Corp. has completed the $11 billion acquisition of the majority of DuPont's Mobility & Materials business.

As part of the deal, Celanese has acquired a broad portfolio of engineered thermoplastics and elastomers, brands, intellectual property and global production assets, the Texas-based group said in a Nov. 1 news release.

The product portfolio of the acquired business includes specialty materials such as thermoplastic copolyesters, ethylene acrylic elastomers as well as polyamides (PA 66, PA6) and polyesters.

The transaction also saw Celanese divesting its own global thermoplastic copolyester (TPC) business, as required by the European Union competition authorities.

This included Celanese's production facility in Ferrara, Italy; and the Pibiflex and Riteflex TPC's brands.

"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," said Lori Ryerkerk, chairman and chief executive officer.

"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," she said.