By Liz White, UT staffLemförde, Germany-Elastogran is planning to acquire the polyurethane systems business of Chemtura Corp., in a deal set to go through 1 Jan 2006. The 24 Oct announcement follows closely on Elastogran’s recent strengthening of its systems business in South Africa through a joint venture with CHC Urethane Products. Chemtura’s systems business supplies Witcothane-brand polyurethane systems for the footwear industry, especially for safety and working shoes. Also part of the potential acquisition are Pesol products and Chemtura’s European polyester polyol product line (Fomrez), said Elastogran’s statement. With this strategic acquisition we are securing our position as market leaders in polyurethane systems in Europe,” said Dr Uwe Hartwig, member of the Elastogran board, in the company statement. The Chemtura business ideally complements our existing polyurethane portfolio in the field of safety and working shoes, particularly in respect of our excellent customer cooperation.”The deal “does not include nor affect in any way Chemtura’s global Adiprene and Vibrathane business or the North American-based Fomrez polyester polyol business,” Elastogran’s statement stressed. Janet Mann, vice president of the Performance Specialties business at Chemtura, commented, We are very pleased to have come to an agreement with Elastogran for this business. … The sale of this business enables Chemtura to focus on its Adiprene and Vibrathane cast elastomers business, which is core to the company.”The two parties are keeping the price confidential. The transaction is subject to the approval of the relevant monopolies and mergers commissions.The business includes sales, marketing, and research and development of the relevant PU systems as well as the relevant technology and the European polyester polyol product line. “
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