Celanese to Acquire Nilit Plastics
Celanese Corporation, a global technology and specialty materials company, and Nilit, a producer of high performance nylon polymers, fibers and compounds, announced they have signed a definitive agreement for Celanese to acquire Nilit Plastics, the nylon compounding division of Nilit.
Celanese will acquire Nilit Plastics’ nylon compounding product portfolio as well as customer agreements and manufacturing, technology and commercial facilities. Nilit will retain ownership of the nylon fibers and nylon polymerization businesses worldwide, including facilities in Israel, the United States, China, and Brazil. Financial details of the transaction are not being disclosed at this time.
“Nylon compounds continue to be a material of choice in automotive, E&E, consumer and industrial applications, and this acquisition delivers on Celanese’s intention to complement its broad portfolio by becoming a leading, global nylon compound supplier,” said Scott Sutton, Celanese executive vice president and president of Materials Solutions. Celanese expects to integrate Nilit Plastics’ nylon compounding product portfolio and production capabilities into the Celanese engineered materials business.
Nilit Plastics makes compounds based on polyamide 6 and 6,6 (PA6 / PA66) as well as different types of partially aromatic polyamides, including polyphthalamide (PPA). The division is dedicated to high quality specialties and has developed more than 3,000 different formulations in the last 40 years. Many of these compounds have been certified by independent authorities and more than 85 compounds are UL and VDE listed for flammability and electrical performances. Nilit Plastics has compounding production facilities in Europe and China.
The parties expect to complete the transaction in the second quarter of 2017, pending customary closing conditions and regulatory approvals. Until closing, Celanese and Nilit Plastics will continue to operate as independent businesses.
Nilit Plastics Europe GmbH
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.