LEMFORDE, Germany (Feb. 20) — Elastogran GmbH plans to purchase Polymer Chemical Co. B.V. for an undisclosed amount to boost its presence in the polyurethane systems business in Europe.
The proposed deal is subject to regulatory approval.
Boxtel, Netherlands-based Polymer Chemical employs 30 and operates as an independent system house, primarily producing polyurethane rigid foam systems and spray coatings. Once the transaction is closed, Polymer Chemical will be integrated into the Elastogran group of companies as a subsidiary and change its name to Elastogran BeNeKux B.V., the company said.
"The performance of PCC fits perfectly with our European network of 11 polyurethane system houses to date, all of which operate close to their customers," according to Uwe Hartwig, a member of the management board at Elastogran, which is a BASF A.G. subsidiary headquartered in Lemforde.
"As a consequence of this acquisition we will further intensify existing customer relationships and continue with the development of customer-oriented polyurethane systems and technologies," Hartwig said.