Lemförde, Germany-Elastogran announced 15 Feb that it plans to buy the Dutch polyurethane systems house Polymer Chemical Co. BV (PCC). The two parties have signed an agreement and the transaction is now subject to the approval of the Monopolies and Merger Commission.
Both parties agreed not to disclose the cost of the purchase. "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 of polyurethane (PU) systems in Europe," said Dr Uwe Hartwig, member of the Elastogran management board, in a company statement.
"… PCC fits in perfectly with our European network of eleven PU system houses to date, all of which operate close to the customer," Hartwig added, saying that, following the acquisition, Elastogran, part of BASF AG, will be able to continue its development of "customer-oriented PU systems and technologies."
Describing PCC's takeover by Elastogran as "a turning point in the company's activities, Wilfried Lochte, PCC chairman, said the company feels the deal "will benefit the continuity and the expansion of the business and have a positive effect on our relationship with business partners and staff alike."
Independent systems unit PCC, set up in 1976, supplies mainly systems for rigid foam and spray coatings. The company employs about 30 staff and has a 10 000 sqm plant located in Boxtel, near Tilburg.
Once the acquisition is finalised, PCC will be integrated into Elastogran under the name Elastogran BeNeLux BV."