ExxonMobil Sells its Santoprene™ TPV elastomers business to Celanese
ExxonMobil Chemical Company has signed an agreement with Celanese Corporation for the sale of its global SantopreneTM business for $1.15 billion, subject to working capital and other adjustments.
The sale includes two world-scale manufacturing sites in Pensacola, Florida and Newport, Wales along with associated product, process development and laboratory equipment, operating and administration buildings, control systems and documentation, and intellectual property.
ExxonMobil’s SantopreneTM brand is a global leader in a specialized market. The company will continue to serve elastomers customers with specialty products, including Butyl rubber and VistalonTM, which are used in a variety of applications.
The transaction is expected to close in the fourth quarter of 2021, subject to regulatory, information and consultation processes, and third-party approvals. The ExxonMobil employees impacted by the sale are expected to transfer to positions at Celanese following change-in-control.
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