West Deptford, New Jersey - COIM USA Inc., part of global polyurethane chemicals producer COIM SpA, is buying Air Products' polyurethane pre-polymers business, marketed under the Airthane and Versathane tradenames.
Also included in the deal, for which an agreement was signed 19 Oct, is Air Products' manufacturing facility in Paulsboro, New Jersey. Terms of the deal were not disclosed.
"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 Versathane and Airthane business will also benefit from the up-stream integration provided by the state-of-the-art polyester manufacturing facility located in West Deptford, New Jersey."
Bob Thomas, global business manager with Air Products' Performance Materials Division, said the company is "pleased to reach an agreement for our polyurethane pre-polymers business with a higher-value owner like COIM."
In polyurethanes, Air Products retains a specialities business and has high expectations" for its Innovathane isocyanates for spray polyureas, and Dabco and Polycat surfactants and catalysts, Thomas said.
COIM said that polyurethane pre-polymers are used in many cast elastomer markets, such as industrial tyres and wheels, printing rollers, cutting and metal-forming blankets, and in custom parts requiring good dynamic performance and durability. They are also used in high-performance adhesives.