LUDWIGSHAFEN, Germany (March 5)—BASF A.G. has acquired Foam Enterprises Inc., a Minneapolis-based supplier of polyurethane spray, pour, froth and molding systems, to strengthen its global system house network.
Foam Enterprises principally serves the roof and wall insulation, walk-in coolers, insulated building panels, spa and boat flotation markets, BASF said. The firm, which had 2003 sales of around $80 million, employs about 80 at its Minneapolis headquarters and a research and development base in Houston.
Terms of the deal were not disclosed.
Both companies will continue to supply their respective systems customers, with BASF supplying raw materials for FEI's customized formulations, according to the German group.