Celanese Corp. has completed the purchase of leading Indian engineering thermoplastics (ETP) compounder Next Polymers Ltd, a move prompted by the company's striving to expand its footprint in India.
“This acquisition complements our rapidly growing India business and establishes Celanese as a leader in the Indian ETP market,” said Scott Sutton, chief operating officer of the company.
Based in Mumbai, India, Next Polymers specialises in the custom compounding of ETP materials and has a 20 kilotonne per annum compounding production facility in Silvassa, to the north of Mumbai.
The company is part of JP Polymers PVT, a large distributor of engineering, speciality and polymers in India, which is already marketing Celanese products in the country.
Next Polymers is specialised in compounding polymers with post-industrial content, a capability that Celanese says is becoming increasingly important as it aims to minimise waste and improve sustainability.
The business has a “world-class” domestic compounding facility with 10 production lines, which will improve Celanese's ETP capabilities in a market that is growing at a 15% annual growth rate, according to Sutton.
Post-acquisition, Celanese and JP Polymers will continue their distribution cooperation.
Celanese will manage Next Polymer's ETP product portfolio within its engineered materials business.
The company will offer Next Polymers-branded materials including polyamide 6 and polyamide 66; polypropylene; acrylonitrile butadiene styrene; polycarbonates and polymethyl methacrylate (PMMA).
Target industries include mainly automotive, E&E and industrial applications.
Financial details of the transaction were not disclosed.