Huntsman buys machinery maker Tecnoelastomeri
Chemical supplier Huntsman Corporation has branched out into machine manufacturing with the acquisition of Tecnoelastomeri, an Italy-based manufacturer and marketer of methylene diphenyl diisocyanate (MDI) based hot-cast elastomer systems and processing machines.
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.
Headquartered in Modena, Italy, Tecnoelastomeri reported 2014 sales revenue of approximately US$12 million.
The terms of the acquisition have not been disclosed.
Tecnoelastomeri markets its product line globally under a number of trademarks, including Tecnoelastomeri engineering urethane elastomers, Tecnothane polyurethane systems, Rithane specialty polyurethane systems, Castech polyurethane machines and Linthane specialty thermoplastic urethanes (TPUs).
“The addition of [Tecnoelastomeri’s] highly experienced team to our polyurethanes business will significantly strengthen our offer to the growing, downstream hot-cast elastomer markets globally,” said Tony Hankins, president of Huntsman’s polyurethanes division. “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.”
Huntsman is headquartered in Woodlands, Tex.