West Deptford, New Jersey - Coim USA Inc. announced 30 Oct that it has bought the Lexorez and Lexad polyester polyols business of Philadelphia, Pennsylvania-based Inolex Chemical Co. These polyols are used in the polyurethane sector to make flexible foam, coatings, adhesives, sealants and elastomers, said West Deptford-headquartered Coim USA.
The US Coim business, a subsidiary of Milan, Italy-based systems and polyester polyol producer Coim SpA, also recently announced that it has begun producing polyester polyols in the US to meet local demand.
The Inolex agreement has been signed: Coim's statement said the transaction does not include any facilities. It is expected to close on 30 Nov 2007. Financial terms of the sale have not been disclosed, said Coim.
"This is a significant addition to the new and state-of-the-art manufacturing facility that COIM USA Inc has completed in West Deptford," commented Paul van der Pol, vice president and general manager. "This acquisition is a further indication of COIM USA's commitment to the polyurethane industry in North America," he added.
Parent company Coim SpA makes many product lines for the polyurethane industry worldwide from its facilities in Milan, Italy, Sao Paolo, Brazil, Singapore and West Deptford.
Polyol production at West Deptford started in June, after a significant investment, said van der Pol (pictured) in a 24 Sept interview with Edward Noga, at the CPI conference/UTECH North America 2007 exhibition in Orlando, Florida. Noga is editor of Rubber & Plastics News, a sister publication of Urethanes Technology International.