Benvic Group, a European leader in the production of highly innovative PVC-based thermoplastic solutions and biopolymers, has announced that it has reached an agreement with Celanese, a leading multinational in the production of chemical solutions and specialty materials, for the purchase of the compounding operations of the Ferrara Marconi plant in Italy, and of certain assets dedicated to the worldwide production of Infill and Appliance PP and to the European Footwear business.
Benvic Group and Celanese reach purchase agreement for compounding assets
The divestment of the Ferrara Marconi site is part of Celanese’s strategy to create a European Compounding Centre of Excellence at the company’s Forli Italian facility.
Benvic, already present in Ferrara, decided to acquire Celanese’s business with the aim of strengthening its presence in the non-PVC based engineering polymer compounding sector and to continue investing in the Ferrara Marconi site so that it becomes one of the largest production sites in Italy in the compounding sector. During 2018, Benvic had already acquired the activities of Vinyloop at the same site, with a significant contribution to employment levels related to the start-up of biopolymer compounding activities.
Benvic expects to conclude the acquisition in the coming months.
Luc Mertens, CEO of Benvic Group, said: “With this transaction, Benvic continues to invest significantly in the creation of a centre of excellence for PVC and non-PVC compounding … Celanese has developed an important leadership in the Infill, Appliance PP and Footwear segments. We are thrilled to welcome these businesses and a significant part of Celanese’s workforce of Ferrara Marconi to Benvic.”
The acquisition of Celanese’s compounding assets represents the eighth acquisition made by Benvic in Europe, five of which in Italy.