Celanese to acquire Mumbai-based compounding firm, Next Polymers
American chemicals maker, Celanese, has agreed to acquire Next Polymers Ltd., one of the country’s largest domestic engineering thermoplastics (ETP) compounders. Financial details of the transaction were not disclosed. Mumbai-based Next Polymers specialises in custom compounding of various ETP materials and has a 20 kilo tons per annum compounding production facility in Silvassa, located in the union territory of Dadra & Nagar Haveli.
“Next Polymers complements our rapidly growing India business to further establish Celanese as a leader in the Indian ETP market by broadening our ability to serve nylon and other engineered materials customers in a high-growth region,” said Mr. Scott Sutton, Chief Operating Officer of Celanese. “Additionally, this acquisition further supports the company’s global manufacturing base by adding a world-class domestic compounding facility with 10 production lines to support our local customers, leverage a potential export base, and expand our domestic ETP capabilities in a market that is growing at a 15 per cent annual growth rate,” he added.
Celanese highlighted Next Polymers’ extensive experience in compounding polymers with post-industrial content, as an increasingly important capability as it reinforces the US firm’s commitment to waste minimisation and sustainability.
Celanese expects to operate Next Polymer’s thermoplastic compounding product portfolio and production capabilities within the Celanese engineered materials business to include the following polymers, all marketed under the Next Polymers brand:
- Nylon 6 and Nylon 66: for automotive, electrical/electronic and consumer applications.
- Polypropylene: for automotive and electrical/electronic applications.
- Acrylonitrile Butadiene Styrene: for automotive and industrial applications.
- Polycarbonate: for automotive, electrical/electronic and industrial applications.
- Polymethyl methacrylate (PMMA): for automotive applications.
“This is a landmark moment for the JP Group of companies and I believe it is an excellent move by Celanese in acquiring our compounding company, Next Polymers, considering the rapidly growing engineering thermoplastics market demand in India,” said Mr. V. P. Shukla, CEO of JP Group of companies. “We will continue the decade-long Celanese/JP Polymers distribution relationship, allowing customers to benefit from the wide range of Celanese and Next branded products,” he added.
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