Celanese expands in India via new acquisition

Celanese Corporation has signed a definitive agreement to acquire Next Polymers Ltd., one of India's largest domestic engineering thermoplastics (ETP) compounders. 

 

Next Polymers specializes in custom compounding of various ETP materials and is headquartered in Mumbai, India, with an approximate 20 kilo tons per annum compounding production facility in Silvassa, located in the union territory of Dadra & Nagar Haveli. The company has extensive experience in compounding polymers with post-industrial content, an increasingly important capability for Celanese that reinforces our commitment to waste minimization and sustainability.

 

According to Scott Sutton, Chief Operating Officer of Celanese Corp.: "Next Polymers complements our rapidly growing India business to further establish Celanese as a leader in the Indian ETP market by broadening our ability to serve nylon and other engineered materials customers in a high-growth region.” Mr. Sutton further states that the acquisition further supports the company’s global manufacturing base by adding a world-class domestic compounding facility with 10 production lines to support domestic customers, leverage a potential export base, and expand Celanese domestic ETP capabilities in a market that is growing at 15% annually.  

 

 

For V. P. Shukla, CEO of JP Group of companies, the agreement is a landmark for the JP Group of companies and consider it an excellent move by Celanese in acquiring the compounding company, Next Polymers, considering the rapidly growing engineering thermoplastics market demand in India.  

 

Celanese expects to operate Next Polymer’s thermoplastic compounding product portfolio and production capabilities within the Celanese engineered materials business to include the following polymers, all marketed under the Next Polymers Ltd., brand: Nylon 6 and Nylon 66 for automotive, electrical/electronic and consumer applications; Polypropylene for automotive and electrical/electronic applications; Acrylonitrile Butadiene Styrene for automotive and industrial applications; Polycarbonate for automotive, electrical/electronic and industrial applications; and Polymethyl methacrylate (PMMA) for automotive applications. 

 

Celanese expects to complete the transaction early in the first quarter of 2019, pending customary closing conditions. Financial details of the transaction are not being disclosed at this time. Until closing, Celanese and Next Polymers Ltd., will continue to operate as independent businesses.