Benvic has announced that the acquisition of the compounding facilities owned by Celanese in Ferrara, Italy, first disclosed in January 2021, has now been successfully concluded. An agreement was reached with all stakeholders involved, including trade unions and relevant local authorities, on 1 July. Under the terms of the agreement, Benvic will also take over 33 of Celanese’s employees at the facility.
The purchase marks the company’s eighth acquisition in the course of a buying spree that kicked off with the takeover of VinyLoop - also located in Ferrara - in 2018.
Celanese originally acquired the Ferrara Marconi facilities when it purchased SO.F.TER Group an Italy-headquartered thermoplastic compounder in 2016.
Last year, Texas-based Celanese had already said that it planned to transition the compounding operations from its Ferrara Marconi, Italy; and Wehr and Kaiserslautern, Germany sites, to its Forli, Italy facility, where it will establish a European compounding center of excellence. Consolidation of the compounding operations is expected to be completed by 2022.
For Benvic, the acquisition further expands its presence in Ferrara and strengthens its portfolio outside the PVC-based engineering polymer compounding sector. The company says it will continue to invest in the Ferrara Marconi site, to grow this into one of the largest compound production sites in Italy.
“The acquisition will enable us to further expand our investments in our Ferrara plant where we had already implemented a new bio-polymer line in 2019,” said Luc Mertens, CEO of Benvic Group.