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Celanese Acquires Nylon Compounding Division of Nilit
May 06, 2017 (MarketLine Financial Deals Tracker via COMTEX) -- (c) 2001-2016 Marketline. All rights reserved. Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Marketline shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon.

Celanese Corporation, a US-based technology and specialty materials company, has acquired the nylon compounding division of Nilit, Ltd., an Israel-based manufacturer of nylon for thermoplastics and apparel applications. Announcement (February 01, 2017): Celanese has signed a definitive agreement to acquire the nylon compounding division of Nilit. Under the terms of agreement, Celanese will acquire Nilit Plastics' nylon compounding product portfolio, customer agreements and manufacturing, technology and commercial facilities. Following the transaction Celanese expects to integrate Nilit Plastics' nylon compounding product portfolio and production capabilities into the Celanese engineered materials business. Pursuant to the transaction, Nilit will retain ownership of the nylon fibers and nylon polymerization businesses worldwide, including facilities in Israel, the United States, China, and Brazil. The transaction is expected to close in the second quarter of 2017.

Deal Participants

Deal Rationale

The transaction will enable Celanese to extend its position in the engineered materials business.

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