Lubrizol Acquires Dow Thermoplastic Polyurethane Business
January 13, 2009
CLEVELAND – The Lubrizol Corp. has acquired the thermoplastic polyurethane (TPU) business from The Dow Chemical Co. This acquisition, structured as a sale and purchase of assets, will expand Lubrizol’s Estane® Engineered Polymers business. The Dow TPU business had 2007 revenues of approximately $85 million. The deal closed on Dec. 31, 2008.
Located in La Porte, TX, Dow’s TPU product line spans the continuum between elastomeric and rigid TPU properties. The two key brands representing the business are: PELLETHANE™ thermoplastic polyurethane elastomers, used in a variety of high-value elastomer applications including footwear, medical tubing, automotive, film and industrial and engineering applications; and ISOPLAST™ engineering thermoplastic polyurethane resins, used in a variety of niche, specialty applications that require a unique combination of high-end engineering plastic properties that include clarity, impact strength and chemical resistance.
With 50 years of industry experience, Lubrizol is a global leader in thermoplastic elastomers, marketing products under the Estane Thermoplastic Polyurethane brand name.
The move ensures that Dow’s existing customers will continue to be supplied with the company’s products. The agreement includes all commercial, production and research and development assets of the Dow TPU business. Lubrizol will be assuming approximately 40 full-time employees. All Dow TPU products will be transitioned immediately to Lubrizol. The Dow brand names will be retained and unified under the Estane Engineered Polymers business.