Huntsman buys polyurethane elastomer maker Tecnoelastomeri in Italy

Huntsman buys polyurethane elastomer maker Tecnoelastomeri in Italy

3:34 PM, 23rd June 2015
Huntsman buys polyurethane elastomer maker Tecnoelastomeri in Italy

THE WOODLANDS, US: Huntsman Corporation said that it has completed the acquisition of Modena, Italy-based Tecnoelastomeri, a manufacturer and marketer of methylene diphenyl diisocyanate (MDI) based hot-cast elastomer systems and processing machines. The purchase price was not disclosed.

Tecnoelastomeri sales revenue was about $12 million for 2014, Huntsman said.

Hot-cast polyurethanes are used in many downstream applications, which are in-turn used in the automotive, rail, oil and gas, mining and steel industries among others. Huntsman has supplied MDI for these applications for many years, it said.

Tecnoelastomeri markets its diverse product line globally under a number of well-known trademarks - Tecnoelastomeri engineering urethane elastomers, Tecnothane polyurethane systems, Rithane specialty polyurethane systems, Castech polyurethane machines and Linthane specialty thermoplastic urethanes (TPUs), the company said.

“The addition of Tecnoelastomeri’s highly experienced team to our polyurethanes business will significantly strengthen our offer to the growing, downstream hot-cast elastomer markets globally. In the past few years we have strengthened our downstream capabilities and now have more than 25 facilities worldwide. These investments reflect our confidence in the long-term growth prospects for MDI-based urethanes,” said Tony Hankins, president, polyurethanes division, Huntsman.

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