On October 17, 2016, Celanese Corporation, a global chemicals and specialty materials company based in Dallas (US), announced it has signed a definitive agreement to acquire the Forlì (Italy) based So.f.ter. Group, one of the world’s largest independent compounders.
“Joining Celanese is a natural continuation of the SO.F.TER. Group success story of growth, customer innovation and application expertise”
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, Softer’s sophisticated and modern manufacturing facilities and product portfolio will provide a vehicle for additional growth, investment and synergies.
“Joining Celanese is a natural continuation of the Softer Group success story of growth, customer innovation and application expertise”, said Italo Carfagnini, chairman of the board of directors. “From our beginnings in Italy in 1980 to being a key part of the Celanese engineered materials business, we will continue to drive innovative and highly specialized solutions for customers. We look forward to the future with Celanese, not only for our customers but also for our dedicated and talented employees”.
“This is the next step in the evolution of Celanese to extend our global leadership position in the engineered materials market”, said Scott Sutton, Celanese executive vice president and president of Materials Solutions. “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. This acquisition continues Celanese’s focus on bringing technical expertise, production and compounding capabilities closer to our valued customers by extending our footprint with industry leading products and capabilities in Italy, Mexico, Brazil and the United States”.
Celanese will acquire SO.F.TER. 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.
Celanese expects to integrate Softer’s full product portfolio and production capabilities into its engineered materials business to include the following registered brands:
- thermoplastic elastomers (TPE): Pibiflex, Forprene, Laprene, Sofprene T, Forflex, Sofprene, Sofpur, Sofprene P, Gumfit, Holo, Forgrin, Terra and Pavprene;
- engineering thermoplastics (ETP): Litepol, Tecnoprene, Polifor, Talcoprene, Carboprene, Litepol B, Nylfor B, Nivionplast B, Nylfor A, Nivionplast A, Pibifor, Pibiter, Abistir, Retelan, Blendfor, Reblend, Stirofor, Sanfor, Cabofor and Norfor.
Celanese expects to complete the acquisition in the fourth quarter of 2016, pending customary closing conditions and regulatory approvals. Until closing, Celanese and Softer will continue to operate as independent businesses.
So.f.ter. Group began operations in 1980 in Italy by manufacturing polymeric compounds for the shoe-making industry. Today, it has approximately 550 employees in Italy, Mexico, Brazil and the United States and has 55 production lines across four manufacturing facilities in Europe and four in the Americas. Its portfolio of engineered thermoplastics and thermoplastic elastomers includes more than 6,000 products.
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