BASF acquires rigid polyurethane foam producer in U.S.

BASF has announced that it has acquired Foam Enterprises, a U.S.-based supplier of rigid polyurethane foam materials for the spray, pour, froth and molding markets.

Financial terms of the deal were not revealed.

The Minneapolis-based company had sales of about $80 million in 2003.

Foam Enterprises founder and president Dennis Holbert will continue to lead the firm, which employs about 80 people at its Minneapolis headquarters and its research and production operations in Houston, Texas.

However, BASF will supply its new acquisition with polyurethane raw materials.

The final products are used for such things as roof and wall insulation, walk-in coolers, insulated building panels, and spas.