Welcome to Urethanes Technology International

Elastogran to buy Chemtura's Witcothane PU systems business

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. “

BUSINESS DIRECTORY

SEARCH FOR YOUR BUSINESS USING THE BUSINESS DIRECTORY

Over 250 UTECH exhibitors listed

Search over 250 business listings to find the companies with business solutions you need....

URETHANES TECHNOLOGY

REPORTING ON POLYURETHANES SINCE 1983

Trusted Informatoin

Urethanes Technology International has been providing business-critical information to the global polyurethanes industry since 1983

ADVERTISING & SPONSORSHIP

INVEST WISELY FOR RESULTS

Target your message, generate leads

Advertising on line and in print gives you access to an audited readership of over 6500/issue. Sponsoring conferences and events can position your firm as a thought leader.