03 July 2012 15:05 [Source: ICIS news]
LONDON (ICIS)--Germany-based chemical major BASF has acquired US-based producer ITWC as it looks to strengthen its polyurethanes business in ?xml:namespace>
Financial details of the transaction were not disclosed.
“With this acquisition, BASF further solidifies its position as a leading solutions provider for polyurethane systems and enhances its global market position with cast elastomer technology for a wide range of industries,” said Raimar Jahn, president of BASF’s Polyurethanes division.
“ITWC has a strong cast elastomers technology and product portfolio, as well as an excellent customer base and manufacturing capabilities,” he added.
“Within North America, the new portfolio complements BASF’s offering of polyurethane chemicals, systems, and specialties, and bolsters our footprint in the regional polyurethanes market,” said Beate Ehle, BASF president of market and business development,
Cast elastomers are used in a wide range of applications, which include industrial tires and rollers, processing equipment for construction, sealants and adhesives, BASF said.
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