ExxonMobil Sells Santoprene Elastomers Business to Celanese for $1.15 Billion

SUGAR LAND--July 1, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Celanese Corporation (NYSE:CE) (Dallas, Texas) is buying Exxon Mobil Corporation's (NYSE:XOM) (Irving, Texas) Santoprene elastomers business for $1.15 billion. The sale may help ExxonMobil reduce its $45 billion debt load, and Celanese says the purchase will help it gain a foothold in the growing electric vehicle field. Industrial Info's Global Market Intelligence (GMI) database includes plant profiles on two Santoprene facilities, one near Pensacola, Florida, and one in Wales, U.K.