DuPont announced it has entered into a definitive agreement with Celanese Corporation to divest a majority of the Mobility & Materials segment including the Engineering Polymers business line and select product lines within the Performance Resins and Advanced Solutions business lines for 11 billion dollars in cash. Combined, these businesses generated net sales of approximately 3.5 billion dollars and operating Ebitda of approximately 0.8 billion dollars in 2021.

The transaction is expected to close around the end of 2022, subject to customary closing conditions and regulatory approvals. The Auto Adhesives, Multibase and Tedlar product lines within the Mobility & Materials segment are not included in the scope of the intended divestitures. The transaction with Celanese will create a market-leading portfolio serving the automotive, consumer and industrial markets with unmatched scale, manufacturing capability and technical expertise.

“We are excited to welcome our future colleagues from DuPont who have built a world-class product and technology portfolio which is highly regarded in the industry. Our businesses are highly complementary which will accelerate our growth in high-value applications including future mobility, connectivity and medical”, said Lori Ryerkerk, Celanese Chairman and Chief Executive Officer.