Chemicals maker Huntsman Corp., The Woodlands, Texas, has purchased Tecnoelastomeri srl, Modena, Italy, a manufacturer of methylene diphenyl diisocyanate (MDI) hot-cast elastomer systems and processing machines.
Tony Hankins, president of Huntsman's polyurethanes division, says the $13 billion company now has more than 25 facilities worldwide, including Tecnoelastomeri, which had about $12 million in revenues last year.
"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," Hankins says.
Hot-cast polyurethanes are used in many products, including bumper pads, coated conveyor belts, gears, rollers and wheels. Huntsman has supplied MDI for these applications for many years.
Terms of the June 23 sale were not publicly available.
