FRANKFURT, Germany - Celanese AG announced an agreement to acquire the European emulsions and global emulsion powders business of Clariant AG for approximately 147 million euros, or about $145 million (U.S.). Completion of the purchase is expected by the end of this year, pending regulatory approvals.

The acquisition includes emulsion and emulsion-powder products used in coatings, adhesives, nonwoven textiles, and other materials. Products include conventional water-based emulsions, high-pressure vinyl acetate ethylene (VAE) emulsions, and powders made from those emulsions for use in construction applications such as tiling adhesives. Celanese said the business holds the number-two position in emulsions overall in Europe, the number-one position in vinyl emulsions in Europe and the number-three position globally in powders.

Celanese currently manufactures the emulsion raw materials vinyl acetate monomer (VAM), polyvinyl alcohol (PVOH), acrylates, and dibutyl maleate (DBM). Vinyl emulsions are the largest end-use applications for VAM in Europe.