Huntsman Corporation has acquired Italian company Tecnoelastomeri (Modena), a manufacturer of methylene diphenyl diisocyanate (MDI) based hot-cast elastomer systems and processing machines. 2014 sales revenue for Tecnoelastomeri was approximately $12 million. The purchase price was not disclosed.
|Castech polyurethane machines are among the product portfolio of Tecnoelastomeri, recently acquired by Huntsman.|
Hot-cast polyurethanes are used in many downstream applications, including bumper pads, coated conveyor belts, gears, rollers and wheels. These applications are used in the automotive, rail, oil and gas, mining and steel industries among others. Huntsman has supplied MDI for these applications for many years.
Tecnoelastomeri markets its product line globally under the Tecnoelastomeri engineering urethane elastomers, Tecnothane polyurethane systems, Rithane specialty polyurethane systems, Castech polyurethane machines and Linthane specialty thermoplastic urethanes (TPUs), among others.
Tecnothane, for example, is a series of MDI-based polyurethane systems including polyols and chain extenders, always based on MDI. The company has production capacity of over 10.000 tonnes for these systems with variable batch sizes.
Commenting on the acquisition, Tony Hankins, President of Huntsman's Polyurethanes division, said: "We are very pleased with the acquisition of Tecnoelastomeri. The addition of its highly experienced team to our Polyurethanes business will significantly strengthen our offer to the growing, downstream hot-cast elastomer markets globally."
"In the past few years we have strengthened our downstream capabilities and now have more than 25 facilities worldwide. These investments reflect our confidence in the long-term growth prospects for MDI-based urethanes."