Feb 19 2007
BASF Group company Elastogran plans to purchase the Dutch Polyurethane System House Polymer Chemical Company B.V. (PCC). An agreement finalizing the planned acquisition was signed by both parties on February 15, 2007. The transaction will be completed subject to the permission of the Monopoly and Merger Commission. The parties mutually agreed not to disclose the purchase price.
“With the takeover of this successful system house we will effectively strengthen our position in the attractive Benelux market as well as our position as market leader for polyurethane systems in Europe,“ said Dr. Uwe Hartwig, member of the Elastogran management board. “The performance of PCC fits perfectly with our European network of 11 polyurethane system houses to date, all of which operate close to their customers. As a consequence of this acquisition we will further intensify existing customer relationships and continue with the development of customer-oriented polyurethane systems and technologies.“
PCC was founded in 1976 and has since been operating as an independent system house mainly for polyurethane rigid foam systems and spray coatings. PCC employs approximately 30 staff and has a 10,000 sqm plant in Boxtel, near Tilburg. Following the conclusion of the planned acquisition PCC is to be integrated into the Elastogran Group as a subsidiary under the name “Elastogran BeNeLux B.V.”
Polyurethanes are versatile plastics for a wide range of applications. The properties of the material can be tailored to suit all needs. Polyurethane products are employed in the automobile industry, for thermal insulation in construction work both above and below ground, in cooling technology, electronics, shoes and furniture manufacturing as well as sports and leisure equipment.