FLORHAM PARK, NJ – BASF has acquired ITWC Inc., Malcom, IA, a company that specializes in cast elastomer polyurethane systems and polyester polyols. Financial details of the transaction were not disclosed.
With more than 80 employees, including business management, manufacturing, R&D, sales and administrative functions, ITWC operates sites in Malcom, IA, and Riverside, CA. BASF is acquiring the assets of ITWC, including those obtained during ITWC’s acquisition of Hydroseal Polymers Inc., Riverside, CA, in November 2010.
“With this acquisition, BASF further solidifies its position as a leading solutions provider for polyurethane systems and enhances its global market position with cast elastomer technology for a wide range of industries,” said Raimar Jahn, President of BASF’s Polyurethanes division.
Cast elastomers are used in a wide range of applications across many markets and are known for their toughness and abrasion resistance. Typical applications include industrial tires and rollers, recreational wheels, transportation gears and pulleys, processing equipment for construction, sieves and scrapers, sealants, and adhesives.