Celanese Corporation (CE), a global technology and specialty materials company, today announced it has completed the transaction to acquire the Forli, Italy based SO.F.TER. Group, one of the world’s largest independent thermoplastic compounders.

Celanese has acquired SO.F.TER. Group’s comprehensive product portfolio of engineering thermoplastics (ETPs), thermoplastic elastomers (TPEs), as well as all customer agreements and all manufacturing, technology and commercial facilities.

The acquisition nearly doubles the number of Celanese global engineered materials product platforms and further extends Celanese’s world-class operational model, technical and industry solutions capabilities, and project pipeline.

“This extended portfolio – complementary to our global engineered materials business – will be integrated with Celanese’s materials capabilities and operational model to increase opportunities for engaging customers across highly diverse application areas where functionality and design freedom are critical to material selection,” said Scott Sutton, Celanese executive vice president and president of Materials Solutions. “Additionally, SO.F.TER. Group’s sophisticated and modern manufacturing facilities and product portfolio provide a vehicle for additional growth, investment and synergies.”

Financial details of the transaction were not disclosed. Celanese announced its agreement to acquire SO.F.TER. Group in October 2016.

 

Source : finance.yahoo.com

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