BASF and ITWC, Inc. announced that BASF has acquired ITWC, Inc., based in Malcom, Iowa. ITWC specializes in cast elastomer polyurethane systems and polyester polyols. With over 80 employees including business management, manufacturing, R&D, sales, and administrative functions, ITWC operates sites in Malcom, Iowa and Riverside, California. BASF is acquiring the assets of ITWC, including those obtained during ITWC’s acquisition of Hydroseal Polymers Inc., Riverside, California, in November 2010.
“With this acquisition, BASF further solidifies its position as a leading solutions provider for polyurethane systems and enhances its global market position with cast elastomer technology for a wide range of industries,” said Raimar Jahn, President of BASF’s Polyurethanes division. “ITWC has a strong cast elastomers technology and product portfolio, as well as an excellent customer base and manufacturing capabilities. We look forward to combining our polyurethanes research and applications expertise with ITWC to expand our global reach in the cast elastomers market.”
“Within North America, the new portfolio complements BASF’s offering of polyurethane chemicals, systems, and specialties, and bolsters our footprint in the regional polyurethanes market,” added Beate Ehle, President of Market and Business Development, North America. “We look forward to welcoming the employees of ITWC at BASF.”
Known for their toughness and abrasion resistance, cast elastomers are used in a wide range of applications across many markets. Typical applications include industrial tires and rollers, recreational wheels, transportation gears and pulleys, processing equipment for construction, sieves and scrapers, sealants and adhesives.
