LEMFORDE, Germany (Jan. 19) — BASF Corp.´s Elastogran GmbH unit has completed its acquisition of Chemtura Corp.´s polyurethane systems business, following approval by the appropriate monopolies and merger control commissions.
The business acquired is focused on the global supply of PU systems for the footwear industry, especially for safety and work shoes, under the Witcothane tradename. Chemtura´s Pesol products and its European polyester polyol product line, tradenamed Fomrez, are also included in the acquisition.
The deal does not include nor affect in any way Chemtura´s global Adiprene and Vibrathane PU prepolymer businesses, the North American-based Fomrez polyester polyol business, nor the Fomrez product lines of Baxenden Chemicals Ltd. UK, the companies added.
The terms of the deal were not disclosed.