MALCOM, IOWA (July 5, 10:15 a.m. ET) — Cast elastomer polyurethane systems producer ITWC Inc. has been purchased by BASF Corp. for an undisclosed amount.
Substantially all the assets of ITWC are being purchased, including ITWC's facilities in Malcom and Riverside, Calif., along with a polyester polyols plant.
The more than 80 employees at ITWC's plants will be offered jobs with BASF Polyurethane and the two main production sites are being integrated into the BASF Polyurethane Systems network.
As a result of the acquisition, BASF will further expand its global position as a leader in the urethane systems and system house network and extends its position as a systems provider to the coatings, adhesives, sealants and elastomers and cast elastomer segments, said Joel Johnson, vice president Polyurethane Systems North America.