DALLAS, June 23, 2021--(BUSINESS WIRE)--Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced that it has acquired certain technology relating to the production of polyacetal (POM) products from Grupa Azoty S.A. of Tarnow, Poland, after its decision to discontinue its POM manufacturing.
Celanese will take over all existing Tarnoform® contracts in order to serve Azoty’s customers. However, with the exception of certain equipment transferred in connection with the intellectual property transfer, this transaction does not include any of Azoty’s employees, tangible assets, manufacturing facilities or sales offices.
"This transaction will enable Celanese to serve Azoty’s customers with Celanese assets, thereby allowing for an incremental volume opportunity for Celanese as well as access to a POM customer base and a proven POM technology in Tarnoform®," said Tom Kelly, Senior Vice President, Engineered Materials, Celanese. "Our Engineered Materials business is a critical growth engine for Celanese, and we continue to take the strategic steps needed, such as this customer and product acquisition, to fuel the ongoing success of the business," concluded Kelly.
The transaction is expected to close in early July 2021.
About Grupa Azoty
The Grupa Azoty Group is the undisputed leader of the fertilizer market domestically and a key player in the fertilizer and chemical industry in Europe. It is the second largest EU-based manufacturer of nitrogen and compound fertilizers, also enjoying a strong position on the markets of melamine, caprolactam, polyamide, oxo alcohols, plasticizers and titanium white.
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. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2020 net sales of $5.7 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com.
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