Oct 20 2009
Air Products (NYSE: APD) today signed an agreement to sell its polyurethane pre-polymers business, marketed under the Airthane® and Versathane® tradenames, to COIM USA Inc., a fully owned subsidiary of global polyurethane chemicals producer COIM SpA. Also included in the deal is Air Products' manufacturing facility in Paulsboro, N.J. Terms of the deal are not being disclosed.
"We are pleased to reach an agreement for our polyurethane pre-polymers business with a higher value owner like COIM," said Bob Thomas, global business director, Performance Materials Division for Air Products. "Going forward, Air Products will continue to focus on its polyurethane specialties business. We have high expectations for continued global growth in our Dabco® and Polycat® PU catalysts and surfactants, Versalink(TM) curatives, and our new Innovathane® and Ancarez ®ISO products for the Polyurea coatings and construction markets."
"This acquisition allows COIM to complete its Imuthane® product portfolio with well established low free monomer technology," said Lucio Siano, vice president and general manager, COIM USA. "The Airthane and Versathane business will also benefit from the up-stream integration provided by the state-of-the-art polyester manufacturing facility located in West Deptford, N.J."
Source: http://www.airproducts.com