MIDLAND, Mich. (March 6) — Dow Chemical Co.´s Dow Polyurethanes business unit plans to acquire British Vita P.L.C. subsidiaries Hyperlast Ltd. and Autothane Ltd. for an undisclosed amount.
England-based Hyperlast and North Wales-headquartered Autothane develop polyurethane elastomers for the marine, engineering resins, oil and gas pipeline, and automotive industries.
Hyperlast has more than 30 years experience in developing and delivering polyurethane products for use on land, sea and in extreme climatic conditions. Autothane designs, manufactures and supplies microcellular polyurethane moldings to the automotive industry in Europe, the Far East and North America.
"The decision to further expand our polyurethane systems´ capabilities in Europe supports Dow's strategy to grow our differentiated, customer-intimate Performance businesses, which can sustain value throughout the business cycle," according to Pat Dawson, vice president for Dow Polyurethanes.
The deal, which won´t be completed until the companies receive regulatory approval, will expand Dow's technology offerings, he said.
Dow didn't say when it expected the transaction to close.