BASF: Acquisition of ITWC
BASF SE, Ludwigshafen, Germany, acquires ITWC, Inc., based in Malcom, Iowa, USA. ITWC specializes in cast elastomer polyurethane systems and polyester polyols. Financial details of the transaction 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 acquisition of Hydroseal Polymers Inc., Riverside, California, 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. We look forward to combining our polyurethanes research and applications expertise with ITWC to expand our global reach in the cast elastomers market.”
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