Celanese to acquire SO.F.TER. Group, terms not disclosed
Celanese announced it has signed a definitive agreement to acquire the Forli, Italy based SO.F.TER. Group, one of the world's largest independent thermoplastic compounders. Celanese will acquire SO.F.TER. Group's comprehensive product portfolio of engineering thermoplastics, thermoplastic elastomers, as well as all customer agreements and all manufacturing, technology and commercial facilities. The acquisition will nearly double the number of Celanese global engineered materials product platforms and further extend Celanese's world class leadership model, solutions capability and project pipeline. Additionally, SO.F.TER. Group's sophisticated and modern manufacturing facilities and product portfolio will provide a vehicle for additional growth, investment and synergies. Celanese expects to complete the acquisition in the fourth quarter of 2016, pending customary closing conditions and regulatory approvals. Until closing, Celanese and SO.F.TER. Group will continue to operate as independent businesses.