Santoprene™ is a thermoplastic vulcanizate (TPV). TPVs are a dynamically vulcanized alloy that belongs to the family of thermoplastic elastomers and consists of ethylene-propylene-diene monomer (EPDM) rubber particles encapsulated in a polypropylene (PP) matrix. It is a dimensionally stable yet elastically deformable plastic that is characterized by good resilience and weather resistance. It is used in the automotive, healthcare, household, electrical, and construction industries. The name Santoprene was originally trademarked by Monsanto in 1977.
Today, the Santoprene™ business is part of Exxon Mobil, a leading global manufacturer of TPV. The Santoprene™ portfolio is highly functionalized to specific application requirements and supported by industry-leading intellectual property.
Celanese has signed an agreement to acquire Exxon Mobil’s Santoprene™ TPV elastomers business for a total purchase price of $1.15 billion. Celanese is acquiring the brand to strengthen its existing elastomers portfolio and bring a broader range of functionalized solutions into targeted growth areas such as future mobility, medical, and sustainability.
As part of the transaction, Celanese is acquiring the Santoprene™, Dytron™ and Geolast™ brands, as well as the product portfolios, all customer and supplier contracts and agreements, production facilities in Pensacola, FL, USA, and Newport, Wales, UK, with a total annual production capacity of over 190 kt, a comprehensive TPV intellectual property portfolio with associated technical and R&D assets, and approximately 350 employees, including the manufacturing, technical, and commercial organization.
The transaction is subject to regulatory approvals, carve-out preparations, and other customary closing conditions. The transaction is expected to close in the fourth quarter of 2021.