Celanese finalizes deal to acquire polyvinyl acetate lines from Ashland
US-based specialty materials producer Celanese on Tuesday completed its acquisition of certain polyvinyl acetate assets from Ashland. The deal was first announced in November.
The acquisition includes two product lines, Vinac and Flexbond, which will support the strategic growth of the Celanese Emulsion Polymers business, the company said.
Financial terms were not disclosed.
“This acquisition will accelerate the growth of the Emulsion Polymers business in the Americas region,” said Phillip McDivitt, general manager of Celanese Emulsion Polymers.
“As we begin integrating these businesses into our product portfolio, we look forward to servicing our new customers and working with them to ensure a smooth transition.”
Vinac branded products are used to make a variety of adhesives for use in woodworking and paper packaging and converting applications.
These vinyl-based polymers can be used to make water resistant wood glues and adhesives suitable for use with various kraft and coated paperboards.
Flexbond branded products are used to make interior and exterior architectural paints. These paints exhibit characteristics such as scrub and stain resistance in interior paints and weather resistance in exterior formulas, according to the company.
Ashland said the sale includes the transfer of its polyvinyl acetate homopolymer and copolymer (PVAc) businesses, including inventory and related technology.
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