Elastogran finalises takeover of Chemtura’s PU systems unit

Lemförde, Germany-Elastogran GmbH's acquisition of the polyurethane systems business of the American Chemtura Corp. has been approved by the competent monopolies and merger control commissions, thus allowing the transaction to be consummated, according to a 19 Jan announcement from the German firm. This acquisition does not include nor affect in any way Chemtura's global Adiprene and Vibrathane polyurethane prepolymer businesses, the North American-based Fomrez polyester polyol business, nor the Fomrez product lines of Baxenden Chemicals Ltd, UK, the statement added. The business is focussed on the global supply of polyurethane systems for the footwear industry, especially for safety and work shoes, under the Witcothane tradename. Chemtura's Pesol products and its European polyester polyol product line, tradenamed Fomrez, are also included in the acquisition. The sales agreement has been signed by both parties who have agreed to keep the sales price confidential. "