BENVIC, A PORTFOLIO COMPANY OF INVESTINDUSTRIAL, STRENGTHENS ITS ACTIVITIES AND ITS INDUSTRIAL SITE IN FERRARA WITH THE PURCHASE OF CELANESE’S COMPOUNDING OPERATIONS AT THE FERRARA MARCONI PLANT

Ferrara, 1July 2021 – Benvic, a European leader in the production of highly innovative PVC based thermoplastic solutions and biopolymers, has announced the acquisition of the Ferrara Marconi compounding operations and related assets owned by Celanese (NYSE: CE), a leading global chemical and specialty materials company.

In January 2021, both parties had announced that they had reached an agreement and Benvic committed to take over some of Celanese’s employees at the facility. The acquisition process completed today, 1 July, and an agreement was reached with all stakeholders involved, including trade unions and relevant local authorities.

Benvic continues to develop and diversify its activities, combining an ambitious acquisition strategy with constant innovation to offer its customers a wide range of PVC-based and non-PVC-based polymer compounds tailored to their specific needs. The purchase of Celanese’s Ferrara Marconi compounding operations further strengthens Benvic leading position in the Italian compounding industry. The acquired operations and assets are dedicated to the production of: Infill (for synthetic grass), Appliance PP, namely for household appliances, and Footwear in Europe. The 33 employees hired, formerly Celanese, will join Benvic, thus contributing to boost innovation in a center of excellence that will benefit from the mix of ideas and know-how of diversified teams.

Luc Mertens, CEO of Benvic Group, said “this 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. This purchase strengthens our technical polymers division and confirms Benvic as a leading player in the production of innovative thermoplastic solutions in Europe. We had two priorities in the close cooperation with the management of Celanese: the commitment to continue the relationships and partnerships established by Celanese and its teams with its customers and suppliers, and the protection of employment.”

The acquisition of Celanese’s compounding operations represents the eighth add-on acquisition made by Benvic in Europe since 2018. Five of such acquisitions are based in Italy: in addition to the investments in Ferrara (Vinyloop and Celanese’s compounding activities), in 2019 Benvic acquired Plantura, a leader in the production of biopolymers, and expanded into the medical sector through the acquisition of Modenplast, in 2019, and Luc & Bel, in 2020.

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