Celanese Corporation (NYSE:CE), a leading, global chemical company, today announced that its Advanced Engineered Materials business has completed a transaction to acquire two product lines, DuPont Zenite liquid crystal polymer (LCP) and Thermx polycyclohexylene-dimethylene terephthalate (PCT), from DuPont Performance Polymers.
"This acquisition will continue to build upon Celanese's position as a global supplier of high performance materials and technology-driven applications as we continue to expand our innovative offerings in growth-oriented segments to support our customers," said David Weidman, chairman and CEO, Celanese. "These two products broaden the company's Ticona Engineering Polymers offerings, enabling Celanese to respond to a globalizing customer base, especially in the high growth electrical and electronics application segments."
"As the leading supplier of high performance engineering resins, DuPont Performance Polymers is fully committed to growing and strengthening its broad product portfolio," said Diane Gulyas, president, DuPont Performance Polymers. "DuPont Performance Polymers has concluded that this opportunity to divest Zenite LCP and Thermx PCT is in the best long-term interests of our portfolio and customers. We will work closely with Celanese to make the transition period as effective as possible for our customers."
Revenues of Zenite LCP and Thermx PCT were approximately US$40 million in 2009 during a period of global economic recessionary conditions. The acquisition price is not being disclosed at this time.