Lubrizol buys Dow’s TPU business

Ohio-based Lubrizol Corporation has announced that it has purchased the thermoplastic polyurethane (TPU) business from Midland, Mich.-based Dow Chemical Company.

The acquisition will help Lubrizol expand it’s Estane brand engineered polymers business. Dow’s TPU business had 2007 revenues of approximately US$85 million. The deal closed on December 31, 2008, and the terms of the deal were not disclosed.

Dow’s TPU business is located in La Porte, Tex., and the product line includes everything from elastomeric to rigid TPU properties.

“We are excited to be adding Dow’s TPU capabilities and products to our existing Estane Engineered Polymers business,” said Mike Vaughn, Lubrizol vice president, Estane Engineered Polymers. “Given Dow’s strong TPU brand recognition in the U.S., this addition further supports our strategy of growth through geographic expansion as it will allow us to introduce new products and technology to international markets where Dow’s TPU business has had limited penetration.”

The agreement includes all commercial, production and research and development assets of the Dow TPU business. Lubrizol will assume approximately 40 full-time employees, and Dow’s brand names will be retained and “unified” under the Estane Engineered Polymers business.