BASF acquires US cast elastomers producer ITWC
BASF on Tuesday announced its acquisition of Iowa-based ITWC, a specialist in cast elastomer polyurethane systems and polyester polyols.
Financial details of the deal were not disclosed.
With more than 80 employees, including business management, manufacturing, R&D, sales, and administrative functions, ITWC operates sites in Malcom, Iowa, and Riverside, California.
BASF is acquiring the assets of ITWC, including those obtained during ITWC's purchase of California’s Hydroseal Polymers in November 2010.
"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,” Mr. Jahn added. “We look forward to combining our polyurethanes research and applications expertise with ITWC to expand our global reach in the cast elastomers market."
Cast elastomers are used in a wide range of applications across several markets and are known for their toughness and abrasion resistance.
Typical applications include industrial tires and rollers, recreational wheels, transportation gears and pulleys, processing equipment for construction, sieves and scrapers, sealants and adhesives.
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