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ExxonMobil Sells Chemstrand Road Plant, Employees Expected To Transfer To New Owner
July 1, 2021
ExxonMobil Chemical Company has sold its plant on Chemstrand Road.
ExxonMobil signed an agreement with Celanese for the sale of its global Santoprene business for $1.15 billion, subject to working capital and other adjustments. Employees impacted by the sale are expected to transfer to positions when the new owner takes control.
The sale includes two world-scale manufacturing sites in Cantonment and Newport, Wales, along with associated product, process development and laboratory equipment, operating and administration buildings, control systems and documentation, and intellectual property.
Reaching this agreement with Celanese is consistent with our strategy and allows us to focus on serving the growing market for primary olefin derivatives, where we can leverage our competitive advantages of industry leading scale, integration and proprietary technology,” said Jack Williams, senior vice president of Exxon Mobil Corporation.
ExxonMobil’s Santoprene brand is a global leader in a specialized market. The company will continue to serve elastomers customers with specialty products, including Butyl rubber and Vistalon, which are used in a variety of applications.
The transaction is expected to close in the fourth quarter of 2021, subject to regulatory, information and consultation processes, and third-party approvals.
Comments
9 Responses to “ExxonMobil Sells Chemstrand Road Plant, Employees Expected To Transfer To New Owner”
Celanese Corporation, formerly known as Hoechst Celanese, is a Fortune 500 global technology and specialty materials company headquartered in Irving, Texas, United States.
“So. Is the new company owned by china?”
No. Publicly traded American company based in Irving, Texas.
So. Is the new company owned by china??
1.5 billion$ sale: lots of men making 12$ an hour kept that place running for years
Response to Shirley Hales on July 1st, 2021 11:49 am
Is this the small plant that use to be called CEREX? I retired from Chemstrand/Monsanto, then Solutia. Also worked in CEREX.
No, this is the Plant south of Cerex where the old Daniels construction entrance gate was.
Is this the small plant that use to be called CEREX? I retired from Chemstrand/Monsanto, then Solutia. Also worked in CEREX.
It used to be called Advanced Elastomers. It was a joint venture between Monsanto and Exxon if I remember right.
@ Ensley Boy: Over adjacent to Ascend. 3000 Chemstrand Rd.
I need to get out more. I never heard of the place.