MIDLAND, Mich. (Sept. 18) — Dow Chemical Co. plans to acquire Edulan A.S., a Danish independent polyurethane systems house specializing in rigid foam and elastomer technologies, for an undisclosed amount.
The deal, which is subject to regulatory approval, will expand Dow Polyurethane Systems, a business unit within the firm's Dow Polyurethanes division, and strengthen its presence in northern Europe, the company said.
Edulan's production facility in Denmark and the rights to all of its rigorously formulated and field-tested systems are included in the deal, Dow said.
"Edulan not only offers us an excellent position in northern Europe, it also expands our portfolio of PU systems technology, helping us to provide our customers with solutions that are tailor-made to their very specific need," said Juan Antonio Merino, general manager of Dow Polyurethane Systems.
By establishing a base in Denmark, Dow Polyurethane Systems will be well positioned to meet customer demand for customized polyurethane systems in the Nordic countries, as well as capture emerging demand in the growing economies of Estonia, Latvia and Lithuania, Dow said.
According to Merino, Dow Polyurethane Systems has been aggressively pursuing growth opportunities and strengthening its global portfolio through a combination of strategic acquisitions and joint ventures.
It formed a joint venture with a Russian market leader in PU systems, Izolan, in August 2006. And in May 2006, Dow acquired British Vita's U.K.-based polyurethane systems business, Hyperlast Ltd. — now operating as Dow Hyperlast — which specializes in spray cast elastomers for the marine, engineering resin, oil and gas pipeline and automotive industries.