Celanese, a pioneer in emulsion polymers and specialty materials, has declared the acquisition of Ashland’s assets, which include its two product lines, Flexbond and Vinac.
The acquisition will reinforce the Emulsion Polymers business of Celanese. Terms of the deal were not revealed. The deal is scheduled for completion within 60 days if all closing conditions are met. Around $45 million of revenues were generated by Flexbond and Vinac in 2010.
The Chief Operating Officer at Celanese, Doug Madden stated that the purchase expands the company’s product offerings in emerging segments. This deal is in line with the company’s strategy to raise shareholder value via the improvement of strategic portfolio, he said.
Celanese Emulsion Polymers’ General Manager, Phillip McDivitt commented that the purchase will expand the company’s Emulsion Polymers business in major markets, including paper, coatings, textiles and adhesives, across the Americas. In addition to expanding its product offerings, the acquisition will advance the company’s emulsion process technology at its production facilities in Boucherville, Quebec, Canada, and Enoree, South Carolina.
The products of Flexbond brand are utilized to produce exterior and interior architectural paints. These paints demonstrate weather resistant properties in exterior paints and stain and scrub resistant properties in interior paints.
The products of Vinac brand are utilized to produce an array of adhesives for paper converting and packaging applications and woodworking applications. These vinyl-based polymers can produce water-resistant adhesives and wood glues ideal for applications in several coated and kraft paperboards.
Source: www.celanese.com