Celanese (Dallas, Texas / USA; www.celanese.com) has signed a definite agreement to acquire independent Italian compounder SO.F.TER. (Forli; www.softergroup.com). Financial details of the deal, which is expected to close in Q4 of this year pending the necessary regulatory approvals, were not disclosed. The acquisition will include all of the Italian company’s engineering thermoplastics and thermoplastic elastomers brands, as well as its customer agreements, alongside all manufacturing, technology and commercial facilities. Until the deal has received the final okay, both companies will continue to operate as independent businesses.

Celanese said the purchase is “the next step” in its evolution to “extend our global leadership position in the engineered materials market.” Formerly part of Hoechst, the company in late 2015 embarked on a restructuring as part of which it has not only announced plans to enter the PEEK market, but also added compounded PA to its portfolio (see Plasteurope.com of 27.01.2016). The latest purchase will almost double Celanese’s global engineered materials portfolio, providing new means for growth, investment and synergies, and will also extend the company’s footprint in Italy, Mexico, Brazil and the US.

Founded in 1980 as a producer of polymeric compounds for shoe manufacture, SO.F.TER. today has a global workforce of about 550 spread across eight manufacturing facilities in Italy, Mexico, Brazil and the US. The company caters mostly top the automotive, household appliances, E&E, construction and footwear sectors.

Celanese’s approximately 7,000 employees posted net sales of USD 5.7 bn in 2015. Net earnings came to USD 151m in Q3 2016.