 "Celanese buys Italian thermoplastic compounder SOFTER Group")
The US-based technology and specialty materials company Celanese Corporation has signed a definitive agreement to acquire Italian thermoplastic compounder SOFTER Group. Celanese will acquire SOFTER Group’s comprehensive product portfolio of engineering thermoplastics (ETPs), thermoplastic elastomers (TPEs), 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. Additionally, SOFTER Group’s sophisticated and modern manufacturing facilities and product portfolio will provide a vehicle for additional growth, investment and synergies.
“This is the next step in the evolution of Celanese to extend our global leadership position in the engineered materials market. SOFTER Group is a leader in the design, development and production of ETPs and TPEs with a fast and flexible customer-oriented business model that will integrate well within the materials solutions core of Celanese,” said Scott Sutton, Celanese executive vice president and president of Materials Solutions.
SOFTER Group began operations in 1980 in Italy by manufacturing polymeric compounds for the shoe-making industry. Today, the group has approximately 550 employees in Italy, Mexico, Brazil and the US and has 55 production lines across 4 manufacturing facilities in Europe and 4 manufacturing facilities in the Americas. The group’s product portfolio of engineered thermoplastics and thermoplastic elastomers includes more than 6,000 SKUs.
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