US specialty materials company Celanese has agreed to acquire India’s Next Polymers, one of the country’s largest engineering thermoplastics (ETP) compounders.

Headquartered in Mumbai, Next Polymers specializes in custom compounding various ETPs, including nylon 6 and 6,6, PP, ABS, PC and polymethyl methacrylate (PMMA), for automotive, electrical/electronic, industrial and consumer applications.

“Next Polymers complements our rapidly growing India business to further establish Celanese as a leader in the Indian ETP market by broadening our ability to serve nylon and other engineered materials customers in a high-growth region,” said Scott Sutton, Celanese’s chief operating officer. “Additionally, this acquisition further supports the company’s global manufacturing base by adding a world-class domestic compounding facility with 10 production lines to support our local customers, leverage a potential export base, and expand our domestic ETP capabilities in a market that is growing at a 15 percent annual growth rate.”

Celanese expects to close the transaction in the first quarter of 2019, pending customary closing conditions. Financial details were not disclosed.