THE WOODLANDS, Texas—Huntsman Corp. is making giant strides in the hot cast elastomeric market as it continues to expand its methylene diphenyl diisocyanate operation.
It recently completed the acquisition of Modena, Italy-based Tecnoelastomeri, a maker of MDI systems, finished elastomer parts and machines for the hot cast elastomer market. Financial details were not disclosed.
Included in the purchase is a production plant in Modena, Italy, that produces MDI-based hot cast elastomer systems, machines for processing elastomers and finished elastomer parts. Alessandro Gramellini serves as managing director of the facility, which employs about 35, according to a spokeswoman.
No job losses are anticipated at the facility, she said.
Adding the Italian firm's experienced team to Huntsman's polyurethanes business will strengthen the company's offerings to the hot cast elastomeric markets significantly worldwide, according to Tony Hankins, president of Huntsman's polyurethanes division.
Tecnoelastomeri markets its diverse product line globally under a number of trademarks, including Tecnoelastomeri engineering urethane elastomers, Tecnothane polyurethane systems, Rithane specialty polyurethane systems, Castech polyurethane machines and Linthane specialty thermoplastic urethanes.
“In the past few years, we have strengthened our downstream capabilities and now have more than 25 facilities worldwide,” Hankins said, “These investments reflect our confidence in the long-term growth prospects for MDI-based urethanes.”
Hot-cast polyurethanes are used in many downstream applications, including bumper pads, coated conveyor belts, gears, rollers and wheels for the automotive, rail, oil and gas, mining, steel and other industries.
Huntsman, a global manufacturer and marketer of numerous chemicals, has been producing MDI for those applications for many years, and the acquisition is a good fit because it allows the company to pursue its strategy of moving downstream in the polyurethane value chain toward end-user markets, the spokeswoman said.
She said Huntsman is a global leader in the production of MDI-based polyurethanes, serving 3,500 customers in more than 90 countries with revenues in 2014 of $5.1 billion. She noted that the company's polyurethanes division “has an international network of more than 20 best-in-class technical development and formulation centers.
“Alongside wholly owned world-scale MDI production plants in the Netherlands, China and the U.S., Huntsman Polyurethanes now operates more than 20 systems houses and a number of other businesses with sector specific manufacturing capabilities.”