Glenview, Illinois - Engineered components manufacturer Illinois Tool Works (ITW) has acquired the assets of Trymer polyisocyanurate (PIR) rigid foam business, the company announced 11 July. Trymer's production plant is based in LaPorte, Texas, manufacturing PIR foam for a range of applications including pipe insulation and mechanical and panel insulation.
The company said the agreement will include a provision for Dow Chemical Co. to exclusively supply ITW with extruded polystyrene (XPS) pipe insulation billets for the mechanical insulation market.
"Trymer is an ideal strategic fit in our growing global insulation business," commented Larry Keiner, vice president and general manager of ITW Insulation Systems. He continued, "The acquisition of TRYMER and the opportunity to supply XPA will broaden our mechanical insulation segment and enable us to offer customers a wide range of high quality products and solutions."
ITW said that Trymer will be a wholly owned business unit of ITW and part of the industrial packaging group but will maintain its brand name and operate as a separate business.
ITW employs around 60 000 staff in 852 business units in 52 countries and has a reported revenue of $16 000 million.