Celanese Corporation completed the sale of its Micromax® business to Element Solutions Inc. on February 2, 2026, receiving approximately $500 million in cash. The transaction marks the final step in a divestiture that began with an agreement announced in October 2025.
Micromax, a global supplier of advanced electronic inks and pastes used in high‑performance electronics, had been part of Celanese’s portfolio since 2019. The business will now operate within Element Solutions’ MacDermid Alpha Electronics Solutions unit, a move that strengthens Element’s electronics performance‑technology platform and expands its market reach in navigation, defense, medical monitoring and advanced circuit board applications.
Celanese’s decision to sell Micromax reflects a deliberate shift toward its core Engineered Materials and Acetyl Chain segments, which the company views as higher‑margin growth engines for electric‑vehicle, medical and connectivity markets. By divesting a non‑core specialty‑materials unit, Celanese can reallocate capital and management attention to these priority areas and accelerate its deleveraging program. The $500 million cash proceeds are earmarked for debt repayment, helping the company reduce net debt and support its goal of generating $700‑$800 million in sustainable free cash flow through 2027, thereby improving its capital structure and credit profile.
Scott Richardson, Celanese’s President and CEO, said the divestiture “strengthens our balance sheet and enables the Micromax team to continue building on its strong foundation as part of Element Solutions.” He added that the transaction “represents a value‑accretive step that advances our strategic priorities of cash generation and deleveraging while allowing Micromax to thrive under a company that is a better strategic fit.”
The $500 million cash infusion will be applied to pay down debt, reducing Celanese’s leverage and providing greater financial flexibility for future investments in its core businesses. While the transaction does not directly impact current revenue or earnings, the improved balance sheet positions Celanese to pursue growth opportunities in its high‑margin segments and to meet its free‑cash‑flow targets without the drag of legacy debt. The divestiture also signals to investors that Celanese is actively optimizing its portfolio in line with broader industry trends toward focused, high‑growth operations.
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