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EX - 99.1 2 tm2120738d1_ex99-1.htm EXHIBIT 99.1 News Release 9 Celanese to Acquire ExxonMobil's Santoprene ™ TPV Elastomers Business Exhibit 99.1 Celanese Transaction Overview Celanese Corporation 222 West Las Colinas Blvd. Suite 900N Irving , Texas 75039 Brings a global leader and flagship brand in thermoplastic vulcanizates ( TPV ) to Engineered Materials ’ leading customer solution set DALLAS ( June 30 , 2021 ) - Celanese Corporation ( NYSE : CE ) , a global chemical and specialty materials company , today announced the signing of a definitive agreement to acquire the Santoprene ™ TPV elastomers business of Exxon Mobil Corporation . Celanese will acquire the industry - renowned Santoprene ™ brand as part of a comprehensive TPV product portfolio , along with intellectual property , production and commercial assets , and a world - class organization . " With the acquisition of the Santoprene ™ business , we are further expanding the unrivaled portfolio of engineered solutions we bring to our customers , " said Lori Ryerkerk , chairman and chief executive officer . “ This transaction represents a high - return opportunity to drive future shareholder value by deploying our excess cash from the monetization of our passive ownership in Polyplastics and continued strong cash generation in our businesses . We are eager to welcome the Santoprene ™ team to Celanese and look forward to their contributions to our continued growth in Engineered Materials . " " This transaction substantially strengthens our existing elastomers portfolio , allowing us to bring a wider range of functionalized solutions into targeted growth areas including future mobility , medical , and sustainability , " said Tom Kelly , senior vice president Engineered Materials . " The reputation of the Santoprene ™ brand in TPV is consistent with Engineered Materials ' flagship brands including Hostaform® in POM and GUR® in UHMW - PE . With this product as part of the Engineered Materials portfolio and project pipeline model , we are confident that our joint commercial and technical teams across the globe will generate meaningful shareholder value . ” The Santoprene ™ business of ExxonMobil is a leading global producer of TPV serving a variety of end - uses including automotive , construction , appliance , medical , and industrial . TPV is a chemically cross - linked , high - performance material which leverages a unique combination of engineering thermoplastic and elastomer properties . The Santoprene ™ portfolio is highly functionalized to specific application requirements and is supported by industry - leading intellectual property .