Huntsman Acquires Tecnoelastomeri, a Producer of MDI-based Hot-cast Elastomer
THE WOODLANDS, Texas -- Huntsman Corporation (NYSE: HUN) announced that it has completed the acquisition of Tecnoelastomeri, a manufacturer and marketer of methylene diphenyl diisocyanate (MDI) based hot-cast elastomer systems and processing machines, based in Modena, Italy. 2014 sales revenue for Tecnoelastomeri was approximately $12 million. The purchase price was not disclosed.
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.Tecnoelastomeri markets its diverse product line globally under a number of well-known trademarks, including Tecnoelastomeri engineering urethane elastomers, Tecnothane polyurethane systems, Rithane specialty polyurethane systems, Castech polyurethane machines and Linthane specialty thermoplastic urethanes (TPUs). Commenting on the acquisition, Tony Hankins, President of Huntsmans Polyurethanes division, said: "We are very pleased with the acquisition of Tecnoelastomeri. The addition of its highly experienced team to our Polyurethanes business will significantly strengthen our offer to the growing, downstream hot-cast elastomer markets globally."
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