The Advanced Engineered Materials business of Celanese
Corp. is acquiring two product lines from DuPont Performance Polymers: DuPont™ Zenite®
liquid crystal polymer (LCP) and Thermx®
polycyclohexylene-dimethylene terephthalate (PCT).
"This acquisition will continue to build upon Celanese's
position as a global supplier of high-performance materials and
technology-driven applications as we continue to expand our innovative
offerings in growth-oriented segments to support our customers," says David
Weidman, chairman and CEO, Celanese.
"These two products broaden the company's Ticona Engineering Polymers
offerings, enabling Celanese to respond to a globalizing customer base,
especially in the high growth electrical and electronics application segments."
"As the leading supplier of high-performance engineering
resins, DuPont Performance Polymers is fully committed to growing and
strengthening its broad product portfolio," says Diane Gulyas, president,
DuPont Performance Polymers. "DuPont Performance Polymers has concluded that
this opportunity to divest Zenite LCP and Thermx PCT is in the best long-term
interests of our portfolio and customers. We will work closely with Celanese to
make the transition period as effective as possible for our customers."
Revenues of Zenite LCP and Thermx PCT were approximately $40
million in 2009 during a period of global economic recessionary conditions. The
acquisition price was not disclosed.
They are increasingly important in electronic devices as
a replacement for halogenated plastic compounds. Many global manufacturers are
discontinuing the use of halogenated compounds in their products in favor of
more environmentally friendly components.
LCPs are used in switches, connectors, memory module
sockets, in-play consoles, laptops, televisions and mobile phones, and other
electrical and electronics devices.
Ticona, the engineering polymers business of Celanese Corp.,
produces and markets a broad range of high-performance products, and posted net
sales of $808 million in fiscal 2009.
Dupont's Zenite business gives Ticona a strong market position, combining two
of the three leading global producers. The third is Solvay Advanced Polymers,
which sells Xydar
LCP. Two other producers are Sumitomo and Polyplastics.
Fifty-six-year-old Pasquale Russo has been doing metalwork for more than 30 years in a tiny southern Italy village. Many craftsmen like him brought with them fabrication skills when they came from the Old World to America.
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